The U.S. Commodity Futures Trading Commission (CFTC), led by Chairman Rostin Behnam, has adopted a non-intervention position in favor of Passive Software Providers (PSP), involving non-custody of user assets and absence of management of buy or sell orders. The CFTC’s Market Participants Division (MPD) will not recommend coercive measures against software providers who have not registered as introducing brokers. Simultaneously, SEC Commissioner Hester Peirce confirmed the institution’s innovation exemption strategy, stating that truly decentralized systems powered by autonomous software do not need an exemption. Uniswap founder Hayden Adams reacted positively to this decision, while Camila Russo, founder of The Defiant, noted that after eight years, the decentralized experience of DeFi is finally becoming finance.
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