The CFTC has proposed two companion frameworks for retail crypto transactions involving leverage, margin or financing: Regulation Crypto Asset Transactions, or CTX, and Regulation Crypto Asset Markets, or CAM. CFTC Chairman Michael S. Selig announced the proposals on October 5 at the Fordham Law Blockchain Regulatory Symposium in New York. The plan would give crypto platforms a federal oversight option without automatically requiring every exchange to register federally, as Congress has not enacted a broad crypto market law. Exchanges offering certain leveraged products already face CFTC registration requirements under existing law, while ordinary spot platforms would generally remain under state money-transmission rules and the CFTC's anti-fraud and anti-manipulation authority. CAMs could face market-surveillance, financial-safeguard, customer-funds and potential proof-of-reserves requirements. Futures commission merchants would handle customer accounts and funds, bringing existing customer-protection, anti-money-laundering and customer-identification obligations. The CFTC is also considering whether crypto sent to an external wallet within 28 days would meet its interpretation of actual delivery. The notice opens a 60-day comment period, does not set leverage caps and would not itself create a final federal regime.