CFTC Grants No-Action Relief to Phantom Wallet Provider
The Commodity Futures Trading Commission has issued no-action relief to Phantom, the crypto wallet provider, permitting the company to carry out specified activities without registering as a broker under a stance announced by Chair Michael Selig on March 17, 2026. The decision lets Phantom expand or continue some product functions while avoiding certain broker-registration requirements, subject to the conditions laid out in the relief. This development is a notable regulatory signal: it reduces near-term compliance burdens for Phantom and may encourage similar requests from other wallet firms seeking clarity. It does not create a universal exemption and leaves open oversight from other agencies such as the SEC and FinCEN. Users and market participants should watch the relief's scope and conditions, since outcomes could affect product rollout, partnerships, and how custodial versus noncustodial services are regulated going forward.