CFTC Chair Mike Selig stated on Fox Business Network that new crypto rulemaking will prevent another FTX-style collapse, allowing crypto exchanges to register federally to safeguard digital asset spot markets. He noted that FTX's CFTC-registered subsidiary kept funds safe due to segregation, and the agency aims to bring similar stringent requirements to the broader crypto world. The CFTC is relying on existing powers and is seeking public comment on a framework for a new federal registration category, "crypto asset market," for exchanges offering leveraged, margined, or financed crypto trades to retail customers.