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      tldr; The Commodity Futures Trading Commission (CFTC) has granted Phantom, a self-custodial crypto wallet, no-action relief to offer derivatives trading without registering as a broker. Phantom’s interface is deemed a passive tool enabling users to trade directly on regulated exchanges without holding funds or intermediating trades. The relief includes conditions like risk disclosures and record-keeping. This decision sets a regulatory model for non-custodial platforms and aligns with broader efforts to modernize digital asset oversight.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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