The Commodity Futures Trading Commission updated crypto-related FAQs and staff guidance to clarify that futures commission merchants, derivatives clearing organizations and other authorized firms may use tokenized forms of otherwise permitted customer investments and blockchain-based recordkeeping under existing rules. Tokenized assets must provide legal and economic rights identical or functionally equivalent to their conventional counterparts, be held appropriately and satisfy additional compliance conditions that the newer guidance did not specify; tokenization does not expand the investments eligible under Regulation 1.25. The CFTC said it would not object to blockchain-based records if firms maintain reliable, accessible records for the required period and produce them to regulators, while custody and other compliance obligations remain. The guidance also retains existing crypto capital and margin rules, including 2% capital charges for proprietary payment stablecoins used as residual interest and 20% minimum charges for Bitcoin and Ether. Chairman Michael Selig said the changes provide clarity after the Senate failed to advance the Digital Asset Market Clarity Act, as the CFTC and SEC pursue crypto frameworks through existing authority. State attorneys general opposed the legislation over federal preemption concerns, although Senator Thom Tillis preserved an option to seek reconsideration.