CFTC withdraws its retail digital-asset commodity-transaction guidance

What changed

The CFTC withdrew its 2020 interpretive guidance on actual delivery for retail commodity transactions involving certain digital assets, removing that guidance as the Commission reconsidered its approach.

Who it affects

• Digital-asset platforms, intermediaries, advisers, and retail clients

What is still open

• What replacement interpretation or rule, if any, the CFTC will adopt

What it means for an advisor

• Do not rely solely on the withdrawn guidance when evaluating leveraged retail digital-asset arrangements.