CFTC updates crypto FAQs, allowing tokenised customer funds and blockchain recordkeeping

The Commodity Futures Trading Commission on Thursday updated its crypto FAQs, telling CFTC-regulated firms they may hold customer funds in tokenised form and keep records on a blockchain.

The update, issued on 24 September 2026 jointly by the agency’s Market Participants Division, Division of Market Oversight and Division of Clearing and Risk, confirmed in a press release that staff would not object if a records entity uses blockchain or distributed ledger technology to create and maintain onchain records that satisfy its recordkeeping obligations. The guidance covers any CFTC regulations involving recordkeeping and maintenance of regulatory data.

The conditions on tokenised funds

Customer funds may only go into tokenised forms of otherwise-permissible investments. Under the CFTC’s guidance, the tokenised asset has to grant the holder legal and economic rights no weaker than those the asset’s traditional holders receive.

For derivatives traders, the move is the agency’s latest step in its focus on tokenised collateral, which the CFTC has framed as a way to modernise derivatives markets and improve collateral management and capital efficiency. The FAQs were originally published in March, building on Staff Letter 25-39 on tokenised collateral and Staff Letter 26-05, a no-action position for certain digital assets used as margin collateral.

Private chains get an easier ride than public ones

The recordkeeping permission is not unconditional. Firms on private networks may not need to maintain offchain versions of their records, but those using public permissionless blockchains should establish systems and controls that let them retain and produce records under any circumstances, including during an emergency or other disruption to the network.

CFTC Chairman Mike Selig said in a statement: “I’m pleased to see staff update these frequently asked questions consistent with the agency’s ongoing efforts to provide regulatory clarity for the crypto industry.”

The update is staff guidance rather than a formal rule, and it landed days after the US Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act, though the chairman did not link the two. The CFTC has also reportedly submitted a crypto market regulation plan for White House review.