The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Participants has issued a No-Action letter regarding Phantom Technologies' application. Subject to specified conditions, if Phantom, as a self-custodial cryptocurrency wallet software provider, provides users with trading interface services connecting to registered Futures Commission Merchants (FCMs), Introducing Brokers (IBs), and Designated Contract Markets (DCMs), CFTC staff will not recommend enforcement action for its failure to register as an Introducing Broker.

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