Phantom | Crypto

On July 9, Phantom and the Hyperliquid Policy Center urged the CFTC to remove rules they say “unduly impede” fintech firms from working with registered derivatives markets. Phantom presents itself as the software in the middle, rather than the custodian. Users retain control of their funds and private keys, while trades are executed directly between […] The post Phantom pulls on-chain perps into the US wallet war ahead of July 9 deadline appeared first on CryptoSlate.

The companies urged the regulator to exempt blockchain developers and non-custodial wallet providers from rules designed for traditional financial intermediaries. Crypto wallet provider Phantom and the Hyperliquid Policy Center have urged the US Commodity Futures Trading Commission (CFTC) to exempt blockchain protocol developers and non-custodial wallet providers from regulations designed for traditional financial intermediaries. In response to a CFTC request for information on regulations affecting fintech firms, the companies asked the agency to confirm that blockchain protocol developers do not have to register solely for creating onchain software, issue guidance allowing regulated derivatives firms to use blockchain infrastructure, and codify exemptions preventing non-custodial wallet providers from being treated as introducing brokers. The companies argued that existing CFTC regulations were designed for custodial financial intermediaries that hold customer assets and process trades, while onchain protoc...

The no-action position taken by the US regulator under Chair Michael Selig will allow the company to engage in certain activities without registering as a broker. The US Commodity Futures Trading Commission (CFTC) said Tuesday that its Market Participants Division issued a no-action letter in response to a request from crypto wallet provider Phantom Technologies. A CFTC notice said that the no-action letter would, under certain circumstances, stop the division from recommending that the regulator take an enforcement action against Phantom or its staff for failure to register as a broker. According to Phantom, the no-action position will allow the company to “act as a non-custodial interface connecting users to a registered exchange [...] without taking on the regulatory obligations of an introducing broker.”  Read more

This means Phantom can act as a non-custodial interface connecting users to registered derivatives platforms, removing the need for broker registration under specific conditions.

Bitcoin Slides After US Admits 1M 'Phantom' Jobs in Data Fix The post Bitcoin Price Slides After US Admits Nearly 1 Million ‘Phantom’ Jobs in Data Revision appeared first on Cryptonews.

The wallet-native feature lets users trade tokenized event contracts across politics, economics and culture without leaving Phantom. Crypto wallet application Phantom has partnered with regulated prediction market Kalshi to bring event-based trading directly into its wallet interface, signaling a deeper convergence between onchain finance and real-world outcome betting.  The companies said on Friday that the integration would allow Phantom users to discover trending events, track live odds and place bets without leaving their wallets.  A new feature called Phantom Prediction Markets will allow users to trade tokenized positions that reference Kalshi’s event markets across politics, economics, sports and culture.  Read more