According to CoinMeta, Chairman Michael Selig further disclosed details of the previously announced regulatory frameworks for the crypto market, namely CTX and CAM. The new rules propose that related retail crypto transactions should in principle be conducted through FCM as an intermediary, and set requirements for customer asset isolation, capital management, anti-money laundering measures, and proof of reserves. For on-chain transactions, CFTC stipulates that delivering crypto assets to external, non-hosted wallets of users within 28 days generally qualifies as an exception to the "actual delivery" rule. Selig mentioned that they are still working on establishing long-term regulatory policies for developers who only release software, do not solicit or accept orders, do not control transaction execution, and do not host customer assets. They also referenced the joint classification of crypto assets by CFTC and SEC, listing BTC, ETH, SOL, XLM, XTZ, and XRP as examples of "digital commodities".