Phantom, a popular self-custodial crypto wallet, has obtained no-action relief from the Commodity Futures Trading Commission (CFTC), allowing it to connect users to derivatives trading through registered market participants without registering as an introducing broker.
The relief allows Phantom to act as a technology service vendor (TSV) to Designated Contract Markets (DCMs), registered futures commission merchants (FCMs), or introducing brokers (collectively, "Collaborators"), enabling users to access event contracts, perpetual contracts, and other CFTC-regulated derivatives through Phantom's interface.
Phantom described the relief as "first-of-its-kind," signaling a potential regulatory template for other crypto wallet providers looking to bridge crypto-native users into traditional financial markets. Phantom also said it proactively engaged with the CFTC to clarify how a non-custodial interface could provide access to regulated markets.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
