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1</head><body class="bg-dark-grey"><div class="admin-bar py-2 bg-black text-white fixed top-0 left-0 right-0 z-[100] hidden"><div class="container"></div></div><header class="fixed left-0 top-0 w-100 h-screen bg-grey hover:bg-white text-black z-50 py-25 px-25 flex flex-col items-center justify-between overflow-hidden transition-all duration-300 ease-in-out cursor-pointer"><div class="mt-18"><svg width="50" height="50" viewBox="0 0 50 50" fill="none" xmlns="http://www.w3.org/2000/svg"><path d="M38.0123 37.5417C38.0123 37.6637 37.9638 37.7807 37.8775 37.867C37.7912 37.9532 37.6742 38.0017 37.5522 38.0017H12.453C12.3927 38.0017 12.3329 37.9898 12.2772 37.9667C12.2215 37.9435 12.1709 37.9096 12.1283 37.8669C12.0857 37.8241 12.0519 37.7734 12.029 37.7176C12.0061 37.6618 11.9944 37.602 11.9946 37.5417V26.6036C11.9946 26.482 12.0429 26.3654 12.1289 26.2795C12.2148 26.1935 12.3314 26.1452 12.453 26.1452H37.5438C37.6041 26.145 37.6639 26.1567 37.7197 26.1796C37.7755 26.2026 37.8262 26.2363 37.869 26.2789C37.9117 26.3215 37.9456 26.3721 37.9688 26.4278C37.9919 26.4835 38.0038 26.5433 38.0038 26.6036L38.0123 37.5417Z
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(September 17, 2026) </strong>â Blockchain Association CEO Summer Mersinger issued the following statement in response to the no-action position to providers of passive software issued today by the CFTC:Â </p><p>âTodayâs action from CFTC staff provides important clarity for developers building software that connects users to regulated derivatives markets.</p><p>By extending its previous no-action relief to similarly situated passive software providers, the CFTCâs Market Participants Division is taking a more functional approach to regulation â one that looks at what a technology provider actually does rather than treating software itself as a traditional financial intermediary. Under the relief, passive software providers may facilitate access to regulated derivatives markets without registering as introducing brokers solely because they provide and market that software, subject to the conditions outlined by the Division.</p><p>That distinction matters. Software providers covered by the relief do not custody customer assets, exercise discretion over the routing or execution of orders, generate buy or sell signals, or affirmatively participate in individual trades.</p><p>The relief is an interim step while the Commission considers broader rulemaking or guidance, and durable regulatory clarity remains important. We look forward to continuing to work with the CFTC on rules that appropriately distinguish software development from financial intermediation and allow responsible innovation to grow in the United States.â</p></div></section></article><footer class="px-20 mb-20 md:px-50 md:mb-25"><div class="px-15 pt-15 pb-75 md:px-25 md:pt-25 md:pb-25 rounded bg-white text-black [&_svg_path]:fill-current"><div class="grid grid-cols-1 lg:grid-cols-12 gap-50"><div class="lg:col-span-4 flex flex-col items-start justify-start"><svg width="152" height="32" viewBox="0 0 152 32" fill="none" xmlns="http://www.w3.org/2000/svg" class="h-[27px] w-auto md:h-auto md:w-auto"><path d="M28.2333 28.0339C28.2333 28.1556 28.185 28.2723 28.099 28.3584C28.0129 28.4444 27.8962 28.4928 27.7745 28.4928H2.74603C2.68586 28.4928 2.62628 28.4809 2.57071 28.4578C2.51514 28.4347 2.46468 28.4009 2.42221 28.3583C2.37974 28.3156 2.3461 28.265 2.32323 28.2094C2.30036 28.1537 2.2887 28.0941 2.28892 28.0339V17.1246C2.28892 17.0033 2.33708 16.8871 2.4228 16.8013C2.50853 16.7156 2.6248 16.6674 2.74603 16.6674H27.7661C27.8263 16.6672 27.8859 16.6789 27.9416 16.7018C27.9972 16.7246 28.0478 16.7583 28.0904 16.8007C28.1331 16.8432 28.1669 16.8937 28.19 16.9493C28.213 17.0048 28.2249 17.0644 28.2249 17.1246L28.2333 28.0339ZM2.28892 3.01187C2.28892 2.89063 2.33708 2.77435 2.4228 2.68862C2.50853 2.60289 2.6248 2.55472 2.74603 2.55472H21.2826C21.3427 2.5545 21.4023 2.56616 21.458 2.58904C21.5137 2.61191 21.5642 2.64555 21.6069 2.68802C21.6495 2.73049 21.6833 2.78096 21.7064 2.83654C21.7295 2.89211 21.7413 2.95169 21.7413 3.01187V13.9212C21.7413 13.9814 21.7295 14.041 21.7064 14.0965C21.6833 14.1521 21.6495 14.2026 21.6069 14.2451C21.5642 14.2875 21.5137 14.3212 21.458 14.344C21.4023 14.3669 21.3427 14.3786 21.2826 14.3783H2.74603C2.6248 14.3783 2.50853 14.3302 2.4228 14.2445C2.33708 14.1587 2.28892 14.0424 2.28892 13.9212V3.01187ZM30.0551 0.265628H0.457114C0.335881 0.265628 0.219613 0.313792 0.133888 0.399523C0.0481628 0.485255 3.08955e-06 0.601532 3.08955e-06 0.722775V30.3264C-0.000218125 30.3866 0.0114421 30.4462 0.034315 30.5018C0.0571879 30.5575 0.0908234 30.6081 0.133292 30.6507C0.175761 30.6933 0.226227 30.7272 0.281796 30.7502
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1<script>self.__next_f.push([1,"5:[\"$\",\"article\",null,{\"children\":[[\"$\",\"$L20\",null,{}],[\"$\",\"$L21\",null,{\"theme\":\"blue\"}],\"$L22\",false,false,[\"$\",\"section\",null,{\"className\":\"px-20 md:px-50 pt-20 md:pt-50 mb-50 md:mb-100\",\"children\":[[\"$\",\"div\",null,{\"className\":\"flex gap-[5px] mb-25\",\"children\":[[\"$\",\"span\",\"8\",{\"className\":\"bg-dark-blue text-white py-5 px-10 md:py-10 md:px-25 text-xs uppercase rounded antialiased\",\"children\":\"Press Releases\"}],[\"$\",\"span\",\"17\",{\"className\":\"bg-dark-blue text-white py-5 px-10 md:py-10 md:px-25 text-xs uppercase rounded antialiased\",\"children\":\"Market Structure\"}]]}],[\"$\",\"p\",null,{\"className\":\"text-s font-normal mb-10\",\"children\":\"September 17, 2026\"}],[\"$\",\"h1\",null,{\"className\":\"text-l font-normal\",\"children\":\"Blockchain Association Statement on the no-action position to providers of passive software issued by the CFTC\"}],null]}],false,false,false,[\"$\",\"section\",null,{\"className\":\"px-20 md:px-50 mb-100 md:mb-150\",\"children\":[\"$\",\"div\",null,{\"className\":\"payload-richtext prose prose-black max-w-none max-w-text-m\",\"children\":[[\"$\",\"p\",\"0\",{\"children\":[[\"$\",\"strong\",\"0\",{\"children\":\"Washington, D.C. (September 17, 2026) \"}],\"â Blockchain Association CEO Summer Mersinger issued the following statement in response to the no-action position to providers of passive software issued today by the CFTC:Â \"]}],[\"$\",\"p\",\"1\",{\"children\":[\"âTodayâs action from CFTC staff provides important clarity for developers building software that connects users to regulated derivatives markets.\"]}],[\"$\",\"p\",\"2\",{\"children\":[\"By extending its previous no-action relief to similarly situated passive software providers, the CFTCâs Market Participants Division is taking a more functional approach to regulation â one that looks at what a technology provider actually does rather than treating software itself as a traditional financial intermediary. Under the relief, passive software providers may facilitate access to regulated derivatives markets without registering as introducing brokers solely because they provide and market that software, subject to the conditions outlined by the Division.\"]}],[\"$\",\"p\",\"3\",{\"children\":[\"That distinction matters. Software providers covered by the relief do not custody customer assets, exercise discretion over the routing or execution of orders, generate buy or sell signals, or affirmatively participate in individual trades.\"]}],[\"$\",\"p\",\"4\",{\"children\":[\"The relief is an interim step while the Commission considers broader rulemaking or guidance, and durable regulatory clarity remains important. We look forward to continuing to work with the CFTC on rules that appropriately distinguish software development from financial intermediation and allow responsible innovation to grow in the United States.â\"]}]]}]}],false]}]\n"])</script>
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