Wire · regulatory
Wallets Can Offer Regulated Perps Without a Broker License, CFTC Staff Says
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Fusion42 · 17 September 2026 · Fusion42 review
CFTC staff issued a staff letter extending relief to any provider of "passive software" allowing them to offer regulated perpetual contracts without registering as brokers, under conditions including joint liability agreements with registered venues or brokers. This expands prior exclusive relief given to Phantom Technologies, enabling software developers to embed regulated derivatives trading into self-custodial crypto wallets while avoiding broker registration.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
You can now embed regulated derivatives trading in your wallet software without broker registration, if you secure joint liability agreements with registered venues. This opens new product capabilities but shifts liability risks squarely onto you and your partners.
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1 source · 17 Sep 2026
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