The CFTC published a detailed FAQ document (Release No. 9200-26, March 20, 2026) clarifying how regulated intermediaries should handle crypto assets. The FAQs confirm that FCMs can use post-haircut values of non-security crypto assets to manage debit balances, and allow payment stablecoins as residual interest in segregated customer accounts with a 2% capital charge. Bitcoin and Ether face a minimum 20% capital charge, aligned with SEC standards. Crypto assets remain ineligible as margin for uncleared swaps, though DCOs may accept qualifying crypto as initial margin under Regulation 39.13(g)(10). The document represents non-binding guidance building on the December 2025 digital assets pilot program.
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