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BTC $76,641.00 -1.80%
ETH $2,278.04 -2.92%
BNB $621.48 -1.57%
XRP $1.39 -2.81%
SOL $84.31 -2.52%
TRX $0.3250 +0.36%
DOGE $0.0973 -1.46%
ADA $0.2446 -2.94%
BCH $448.81 -0.52%
LINK $9.19 -2.79%
HYPE $41.68 +0.92%
AAVE $96.63 +0.73%
SUI $0.9216 -2.28%
XLM $0.1646 -3.28%
ZEC $352.11 -0.83%

20%

The U.S. CFTC clarifies pilot requirements for using crypto assets as collateral: BTC/ETH collateral must meet a 20% capital adequacy ratio

According to market news, the Commodity Futures Trading Commission (CFTC) has provided detailed guidance on a pilot program for using crypto assets as collateral. The regulatory agency has notified futures commission merchants (FCMs) that participation in the pilot requires submitting a notice to the market participants division, stating the start date for accepting crypto assets as margin. Key points include:Capital Requirements: Only Bitcoin, Ethereum, and stablecoins can be accepted as collateral, with BTC/ETH calculated at a 20% capital adequacy ratio and stablecoins at 2%. Futures brokers participating in the pilot can only accept Bitcoin, Ethereum, or stablecoins in the first three months;Compliance and Reporting Obligations: Futures brokers participating in the pilot must promptly report significant cybersecurity or system issues and submit weekly reports on the total amount of crypto assets in customer accounts;Expansion After Three Months: Other crypto assets may be used as collateral after three months, while some reporting requirements will be terminated;Limited Use: Only the remaining rights of dedicated payment stablecoins deposited into customer segregated accounts are allowed; crypto assets cannot be used for uncleared swap collateral, but eligible tokenized assets may be substituted.Derivatives Clearing Organization Requirements: Clearing organizations that meet CFTC credit, market, and liquidity risk requirements may accept crypto assets and stablecoins as initial margin for cleared transactions.
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