Key points from the announcement:

  • The interpretive guidance discusses two primary factors demonstrating “actual delivery” of retail commodity transactions in virtual currency:  1.) full delivery to and control of the asset by the customer; and 2.) relinquishment of possession and interest by the seller.
  • The CFTC’s Division of Market Oversight led the development of the final interpretive guidance, which was informed by significant stakeholder engagement (VASPs, exchanges, etc,).
  • The final guidance reflects extensive insight gained by the agency through public input, advisory committee meetings, regulatory oversight of exchanges offering digital asset-based derivatives products, numerous LabCFTC and market interactions, and market surveillance.