According to CoinMeta, and as reported by The Wall Street Journal, Selig, the chairman of CFTC, stated that the organization is proposing the first round of regulatory rules for the crypto market. These new rules will create a federal framework for crypto exchanges registered with CFTC and acknowledge the key differences between crypto assets and traditional commodities. The main impacts include: Bitcoin and Ethereum will be included in a clearer framework dominated by CFTC. Crypto exchanges will have the option to choose single federal regulation, rather than relying solely on state licenses. Platforms will be able to offer retail margin trading, leverage, and financing. The new rules will not force all crypto assets to be registered in CFTC-registered venues. This move is made after the Senate was unable to advance the "Clarify Act," and now CFTC is using its existing authority to continue to push forward. Selig stated that this is just the "beginning" of a broader effort to improve the structure of the U.S. crypto market and fill in the gaps.