Washington, Oct. 6 -- The US Commodity Futures Trading Commission (CFTC) has begun the process of establishing a comprehensive regulatory framework for crypto asset transactions, seeking public comments on rules covering retail commodity transactions involving crypto assets.

The CFTC on Monday published an Advanced Notice of Proposed Rulemaking (ANPRM), seeking views on how it can establish "fit-for-purpose" rules for crypto asset transactions covered under Section 2(c)(2)(D) of the Commodity Exchange Act. The move could form the basis for future rulemaking governing crypto asset markets.

CFTC Chairman Michael S. Selig said the initiative was aimed at providing greater clarity and certainty to market participants while strengthening con...