SPI Pushes for CFTC Rule Updates to Support Blockchain Innovation

The Solana Policy Institute has submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) urging them to modernize rules for blockchain innovation.

In a filing on July 9, the non-profit organization highlighted the need to update outdated regulatory frameworks to support blockchain-based markets and non-custodial interfaces like wallets.

The Solana Policy Institute argued that non-custodial front-ends should not be automatically classified as financial intermediaries, which would hinder innovation and competition in the space.