US Fintech & Crypto Rules: CFTC, OCC, FDIC Unveil New Guidelines

FinTech Regulatory Shake-Up Hits Prediction Markets

The Commodity Futures Trading Commission (CFTC) proposed new rules on June 12 to amend regulations for event contract derivatives traded on prediction markets. This aims to define ‘gaming’ and set criteria for when contracts are against public interest, considering price discovery and market integrity.

Separately, the United States and the CFTC filed a lawsuit against New Mexico on June 12. The suit seeks to prevent the state from enforcing its gambling laws against CFTC-regulated designated contract markets (DCMs) offering event contracts, asserting federal regulatory preemption.

CFTC OKs Perpetual Digital Commodity Futures

The CFTC’s Division of Market Oversight issued Letter No. 26-19 on June 12. This grants conditional no-action positions to firms like Bitnomial Exchange LLC and Coinbase Derivatives LLC.

• The letter permits the removal of expiration dates from existing perpetual-style digital commodity futures contracts.
• This effectively converts them into ‘Digital Commodity Perpetual Futures Contracts.’
• It follows a May 29 CFTC order confirming the legality of listing perpetual futures referencing spot prices of bitcoin or other digital commodities.
• The no-action positions are subject to eight specific conditions.

OCC Proposes New Stablecoin Reporting Forms

The Office of the Comptroller of the Currency (OCC) released Bulletin 2026-24 on June 11. It proposes new weekly and quarterly reporting forms for permitted payment stablecoin issuers and foreign payment stablecoin issuers.

These forms are mandated by the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, enacted on July 18, 2025.

• The proposed weekly Form PS-01 requires detailed information on stablecoin holders, issuance/redemption data, and reserve asset composition.
• This includes cash balances, U.S. Treasury securities, reverse repurchase agreements, and money market mutual funds.
• Quarterly reports will mirror Call Reports for national banks, covering income statements, balance sheets, and capital, with an emphasis on public transparency.

Industry Groups Push for FDIC Stablecoin Alignment

In June 2026, banking and fintech groups, including the American Bankers Association (ABA) and the Blockchain Association, submitted letters to the Federal Deposit Insurance Corp. (FDIC).

They urged the FDIC to harmonize its proposed stablecoin oversight rules with those of the OCC. Concerns cited included potential regulatory arbitrage and consumer confusion due to inconsistencies in:

• Definitions
• Yield prohibitions
• Deposit insurance eligibility
• Reserve concentration limits

The ABA advocated for robust enforcement of the yield prohibition and standardized capital floors. The Blockchain Association supported a principles-based approach to regulation.