The CFTC just gave @phantom a no-action letter to offer derivatives trading through its wallet w/o registering as an introducing broker. It does a great job balance regulatory goals & commercial realities This is a big unlock for self-custodial crypto wallets 🧵

This is less about Phantom specifically and more about the CFTC building a template Any wallet, frontend, or aggregator that wants to offer CFTC-regulated derivatives access now has a roadmap, and it's a serious one /F