{"id":1620,"date":"2026-06-11T03:45:17","date_gmt":"2026-06-10T22:15:17","guid":{"rendered":"https:\/\/stnews.live\/2026\/06\/cftc-crypto-derivatives-regulation-explained-2026-guidance-pilot-program-2\/"},"modified":"2026-06-11T03:45:17","modified_gmt":"2026-06-10T22:15:17","slug":"cftc-crypto-derivatives-regulation-explained-2026-guidance-pilot-program","status":"publish","type":"post","link":"https:\/\/stnews.live\/ar\/2026\/06\/cftc-crypto-derivatives-regulation-explained-2026-guidance-pilot-program\/","title":{"rendered":"\u0634\u0631\u062d \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0645\u0646 CFTC: \u0625\u0631\u0634\u0627\u062f\u0627\u062a 2026\u060c \u0628\u0631\u0646\u0627\u0645\u062c \u062a\u062c\u0631\u064a\u0628\u064a"},"content":{"rendered":"“`html\n\n

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\n\n\n

\u062a\u0641\u0633\u064a\u0631 \u0625\u0631\u0634\u0627\u062f\u0627\u062a \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC \u0627\u0644\u062d\u062f\u064a\u062b\u0629<\/h2>\n\n\n

\u0623\u0635\u062f\u0631\u062a \u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u0634\u0627\u0631\u0643\u064a\u0646 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 (MPD) \u0648\u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u0642\u0627\u0635\u0629 \u0648\u0627\u0644\u0645\u062e\u0627\u0637\u0631 (DCR) \u0641\u064a CFTC \u0625\u062c\u0627\u0628\u0627\u062a \u0639\u0644\u0649 11 \u0633\u0624\u0627\u0644\u064b\u0627 \u0634\u0627\u0626\u0639\u064b\u0627 \u062d\u0648\u0644 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0641\u064a 20 \u0645\u0627\u0631\u0633 2026\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633. \u0642\u062f\u0645\u062a \u0647\u0630\u0647 \u0627\u0644\u062e\u0637\u0648\u0629 \u062e\u0627\u0631\u0637\u0629 \u0637\u0631\u064a\u0642 \u0634\u0627\u0645\u0644\u0629 \u0644\u0644\u0627\u0645\u062a\u062b\u0627\u0644 \u0644\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629.<\/p>\n\n\n

\u062a\u0648\u0636\u062d \u0623\u0633\u0626\u0644\u0629 \u0645\u0627\u0631\u0633 2026 \u0623\u0646 \u0641\u0642\u0637 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 “\u063a\u064a\u0631 \u0627\u0644\u0623\u0645\u0646\u064a\u0629” – \u0645\u062b\u0644 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646\u060c \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645\u060c \u0648\u0628\u0639\u0636 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0629\u060c \u0625\u0644\u0649 \u062c\u0627\u0646\u0628 \u0628\u0639\u0636 \u0635\u0646\u0627\u062f\u064a\u0642 \u0633\u0648\u0642 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0645\u0631\u0645\u0632\u0629. \u064a\u0645\u0643\u0646 \u0627\u0639\u062a\u0628\u0627\u0631\u0647\u0627 \u0645\u0624\u0647\u0644\u0629 \u0643\u0636\u0645\u0627\u0646 \u0647\u0627\u0645\u0634\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633 \u0648\u0643\u0645\u0627 \u0647\u0648 \u0645\u0637\u0644\u0648\u0628 \u0644\u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC. \u064a\u062c\u0628 \u0639\u0644\u0649 FCMs \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u062a\u062e\u0641\u064a\u0636\u0627\u062a \u0642\u0627\u0626\u0645\u0629 \u0639\u0644\u0649 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0639\u0646\u062f \u062a\u0642\u064a\u064a\u0645 \u0636\u0645\u0627\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629\u060c \u0648\u064a\u062c\u0628 \u0639\u0644\u064a\u0647\u0645 \u062a\u0642\u062f\u064a\u0645 \u0625\u0634\u0639\u0627\u0631\u0627\u062a \u0627\u0645\u062a\u062b\u0627\u0644 \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a\u0629 \u0625\u0644\u0649 MPD\u060c \u062a\u0648\u0636\u062d \u0643\u0644 \u0625\u062c\u0631\u0627\u0621 \u0628\u0627\u0644\u062a\u0641\u0635\u064a\u0644.<\/p>\n\n\n

\u062a\u0633\u062a\u0646\u062f \u0647\u0630\u0647 \u0627\u0644\u0625\u0631\u0634\u0627\u062f\u0627\u062a \u0627\u0644\u0645\u0648\u0633\u0639\u0629 \u0625\u0644\u0649 \u0628\u0631\u0646\u0627\u0645\u062c \u0627\u0644\u062a\u0646\u0633\u064a\u0642 \u0628\u064a\u0646 SEC \u0648CFTC \u0641\u064a \u064a\u0646\u0627\u064a\u0631 2026\u060c \u0627\u0644\u0630\u064a \u0642\u0627\u0645 \u0628\u0645\u062d\u0627\u0630\u0627\u0629 \u0642\u0648\u0627\u0639\u062f \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0648\u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0644\u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 Latham & Watkins. \u0645\u0646 \u062e\u0644\u0627\u0644 \u0645\u062d\u0627\u0630\u0627\u0629 \u0627\u0644\u0623\u0633\u0627\u0644\u064a\u0628\u060c \u062a\u062a\u0646\u0642\u0644 \u0627\u0644\u0645\u0624\u0633\u0633\u0627\u062a \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0627\u0644\u0622\u0646 \u0645\u0639 \u0639\u062f\u0645 \u0627\u0644\u064a\u0642\u064a\u0646 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a \u0628\u0634\u0643\u0644 \u0623\u0642\u0644. \u0648\u0641\u0642\u064b\u0627 \u0644\u0644\u0645\u062d\u0644\u0644\u064a\u0646\u060c \u062a\u0645\u062b\u0644 \u0647\u0630\u0647 \u0627\u0644\u0648\u0636\u0648\u062d \u0642\u0641\u0632\u0629 \u0643\u0628\u064a\u0631\u0629 \u0644\u0644\u0623\u0645\u0627\u0645 \u0645\u0646 \u0623\u062c\u0644 \u0627\u0633\u062a\u0642\u0631\u0627\u0631 \u0627\u0644\u0633\u0648\u0642.<\/p>\n\n\n

\n\n\n

\u0623\u0633\u0627\u0633\u064a\u0627\u062a \u0625\u0631\u0634\u0627\u062f\u0627\u062a \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0645\u0631\u0645\u0632\u0629 \u062a\u062d\u062a \u062a\u0646\u0638\u064a\u0645 CFTC<\/h2>\n\n\n

\u0623\u062d\u0636\u0631 \u062e\u0637\u0627\u0628 \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 25-39\u060c \u0627\u0644\u0630\u064a \u0635\u062f\u0631 \u0641\u064a \u062f\u064a\u0633\u0645\u0628\u0631 2025 \u0648\u062a\u0645 \u062a\u062d\u062f\u064a\u062b\u0647 \u0625\u0644\u0649 \u062e\u0637\u0627\u0628 \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 26-05 \u0641\u064a \u0623\u0648\u0627\u0626\u0644 2026\u060c \u0645\u062a\u0637\u0644\u0628\u0627\u062a \u0635\u0627\u0631\u0645\u0629 \u0644\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0645\u0631\u0645\u0632\u0629 \u0641\u064a \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633. \u0623\u0643\u062f\u062a \u062e\u0637\u0627\u0628\u0627\u062a \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 \u0623\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0629\u060c \u0648\u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646\u060c \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645\u060c \u0648\u0628\u0639\u0636 \u0635\u0646\u0627\u062f\u064a\u0642 \u0633\u0648\u0642 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0645\u0631\u0645\u0632\u0629 \u062c\u0645\u064a\u0639\u0647\u0627 \u0645\u0624\u0647\u0644\u0629 \u0643\u0636\u0645\u0627\u0646 \u0647\u0627\u0645\u0634 – \u0648\u0644\u0643\u0646 \u0641\u0642\u0637 \u0625\u0630\u0627 \u0627\u062c\u062a\u0627\u0632\u062a \u0627\u062e\u062a\u0628\u0627\u0631\u0627\u062a CFTC \u0627\u0644\u0635\u0639\u0628\u0629.<\/p>\n\n\n

\u0643\u0644 \u0623\u0635\u0644 \u0631\u0642\u0645\u064a \u0645\u0642\u0628\u0648\u0644 \u0643\u0636\u0645\u0627\u0646 \u064a\u062e\u0636\u0639 \u0644\u062a\u062e\u0641\u064a\u0636 \u0642\u0627\u0626\u0645 \u0639\u0644\u0649 \u0627\u0644\u0645\u062e\u0627\u0637\u0631\u060c \u0645\u0645\u0627 \u064a\u0642\u0644\u0644 \u0645\u0646 \u0642\u064a\u0645\u062a\u0647 \u0644\u0644\u0645\u0633\u0627\u0639\u062f\u0629 \u0641\u064a \u0627\u0644\u062a\u062e\u0641\u064a\u0641 \u0645\u0646 \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a\u060c \u0643\u0645\u0627 \u064a\u0635\u0641 \u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633. \u0642\u0628\u0644 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u062e\u0637\u0627\u0628 \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 26-05\u060c \u062a\u062d\u062a\u0627\u062c FCMs \u0625\u0644\u0649 \u062a\u0642\u062f\u064a\u0645 \u0637\u0644\u0628 \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a \u0625\u0644\u0649 MPD. \u0625\u0630\u0627 \u0627\u0633\u062a\u062e\u062f\u0645\u062a FCMs \u0639\u0645\u0644\u0627\u062a\u0647\u0627 \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0629 \u0627\u0644\u062e\u0627\u0635\u0629 \u0628\u0647\u0627\u060c \u0641\u0633\u0648\u0641 \u062a\u0648\u0627\u062c\u0647 \u0639\u0628\u0621 \u0631\u0623\u0633 \u0645\u0627\u0644 \u0644\u0627 \u064a\u0642\u0644 \u0639\u0646 2%. \u062a\u062d\u0645\u0644 \u0645\u0631\u0627\u0643\u0632 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 \u0639\u0628\u0621 \u0631\u0623\u0633 \u0645\u0627\u0644 \u0644\u0627 \u064a\u0642\u0644 \u0639\u0646 20% \u0628\u0633\u0628\u0628 \u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0623\u0639\u0644\u0649\u060c \u0643\u0645\u0627 \u0647\u0648 \u0645\u062d\u062f\u062f \u0641\u064a \u062a\u0646\u0638\u064a\u0645 CFTC 1.17(c)(5)(ii) \u0628\u0645\u0627 \u064a\u062a\u0645\u0627\u0634\u0649 \u0645\u0639 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC.<\/p>\n\n\n

\n\n\n

\u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u0623\u0645\u0646\u064a\u0629 \u0643\u0647\u0627\u0645\u0634: \u062a\u0641\u0633\u064a\u0631 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a CFTC<\/h2>\n\n\n

\u0628\u062f\u0621\u064b\u0627 \u0645\u0646 \u0623\u0648\u0627\u0626\u0644 \u0639\u0627\u0645 2026\u060c \u064a\u0645\u0643\u0646 \u0644\u0640 FCMs \u0627\u0644\u062a\u064a \u062a\u0645\u062a\u062b\u0644 \u0644\u062e\u0637\u0627\u0628 \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 26-05 \u0627\u062d\u062a\u0633\u0627\u0628 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u0623\u0645\u0646\u064a\u0629 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u0621. \u0645\u062b\u0644 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 – \u0643\u062c\u0632\u0621 \u0645\u0646 \u0627\u0644\u0647\u0627\u0645\u0634\u060c \u0628\u0639\u062f \u0627\u0644\u062a\u062e\u0641\u064a\u0636\u060c \u0644\u062a\u063a\u0637\u064a\u0629 \u0627\u0644\u0639\u062c\u0632 \u0641\u064a \u0627\u0644\u062d\u0633\u0627\u0628\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633.<\/p>\n\n\n

\u062a\u062a\u0637\u0644\u0628 FCMs \u0625\u062e\u0637\u0627\u0631 MPD \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a\u064b\u0627 \u0642\u0628\u0644 \u0627\u0639\u062a\u0628\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0643\u0636\u0645\u0627\u0646\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633\u060c \u0645\u0645\u0627 \u064a\u062c\u0639\u0644 \u0627\u0644\u0645\u0633\u0627\u0631 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a \u0634\u0641\u0627\u0641\u064b\u0627 \u0628\u0645\u0648\u062c\u0628 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a CFTC \u0627\u0644\u0645\u0641\u0633\u0631. \u064a\u0633\u0645\u062d \u0642\u0628\u0648\u0644 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u063a\u064a\u0631 \u0627\u0644\u0623\u0645\u0646\u064a\u0629 \u0643\u0647\u0627\u0645\u0634 \u0644\u0644\u0634\u0631\u0643\u0627\u062a \u0628\u062a\u062d\u0633\u064a\u0646 \u0627\u0644\u0647\u0627\u0645\u0634 \u0628\u0634\u0643\u0644 \u0623\u0643\u062b\u0631 \u0645\u0631\u0648\u0646\u0629 \u0645\u0646 \u0645\u062c\u0631\u062f \u0627\u0644\u0646\u0642\u062f \u0648\u0627\u0644\u0633\u0646\u062f\u0627\u062a. \u0644\u0627 \u062a\u062a\u063a\u064a\u0631 \u0639\u0628\u0621 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0623\u062f\u0646\u0649: 2% \u0644\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629\u060c \u064820% \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645.<\/p>\n\n

\u0627\u0644\u0648\u0627\u0644\u062f \u0644\u0640 Kraken @Payward<\/a> \u062a\u0633\u062a\u062d\u0648\u0630 \u0639\u0644\u0649 @Bitnomial<\/a> – \u0623\u0648\u0644 \u0634\u0631\u0643\u0629 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0631\u062e\u0635\u0629 \u0628\u0627\u0644\u0643\u0627\u0645\u0644 \u0645\u0646 CFTC \u0641\u064a \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629 \u0645\u0635\u0645\u0645\u0629 \u0644\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629. \u062a\u0645 \u0628\u0646\u0627\u0624\u0647\u0627 \u0644\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 \u0627\u0644\u0623\u0644\u0641 \u0625\u0644\u0649 \u0627\u0644\u064a\u0627\u0621.

\u0627\u0644\u0647\u0627\u0645\u0634 \u0627\u0644\u0641\u0648\u0631\u064a\u060c \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629\u060c \u0648\u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a \u0642\u0627\u062f\u0645\u0629 \u0625\u0644\u0649 Kraken \u0628\u0645\u0648\u062c\u0628 \u062a\u0646\u0638\u064a\u0645 CFTC.https:\/\/t.co\/IBLotDkqQF<\/a><\/p>\u2014 Kraken (@krakenfx) 17 \u0623\u0628\u0631\u064a\u0644 2026<\/a><\/blockquote>\n\n\n\n

\u062a\u0645\u0646\u062d \u0647\u0630\u0647 \u0627\u0644\u062a\u062d\u0648\u0644 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u064a\u0646 \u0627\u0644\u0645\u0624\u0633\u0633\u064a\u064a\u0646 \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a\u060c \u0645\u0645\u0627 \u064a\u0633\u0645\u062d \u0644\u0635\u0627\u0646\u0639\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0631\u0627\u0626\u062f\u064a\u0646 \u0628\u0632\u064a\u0627\u062f\u0629 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0641\u064a \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629\u060c \u0643\u0645\u0627 \u0623\u0648\u0636\u062d \u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633. \u0633\u0648\u0627\u0621 \u0623\u0635\u0628\u062d\u062a \u0623\u0635\u0648\u0644 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0627\u0644\u0625\u0636\u0627\u0641\u064a\u0629 \u0645\u0624\u0647\u0644\u0629 \u0643\u0647\u0627\u0645\u0634 \u0633\u062a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0646\u062a\u0627\u0626\u062c \u0627\u0644\u0628\u0631\u0646\u0627\u0645\u062c \u0627\u0644\u062a\u062c\u0631\u064a\u0628\u064a – \u0648\u0645\u062f\u0649 \u0627\u0644\u062a\u0632\u0627\u0645 \u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u0628\u0627\u0644\u0627\u0645\u062a\u062b\u0627\u0644 \u0648\u0641\u0642\u064b\u0627 \u0644\u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC \u0627\u0644\u0645\u0641\u0633\u0631 \u0641\u064a \u0627\u0644\u0631\u0633\u0627\u0626\u0644 \u0627\u0644\u062d\u0627\u0644\u064a\u0629.<\/p>\n\n\n

\n\n\n

\u0628\u0631\u0646\u0627\u0645\u062c \u062a\u062c\u0631\u064a\u0628\u064a \u0644\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629: \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC<\/h2>\n\n\n

\u0641\u064a \u0631\u0628\u064a\u0639 \u0639\u0627\u0645 2026\u060c \u0642\u062f\u0645\u062a CFTC \u062e\u0637\u0627\u0628 \u0639\u062f\u0645 \u0627\u062a\u062e\u0627\u0630 \u0625\u062c\u0631\u0627\u0621 \u0628\u0634\u0623\u0646 \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629. \u062d\u064a\u062b \u0623\u0637\u0644\u0642\u062a \u0628\u0631\u0646\u0627\u0645\u062c\u064b\u0627 \u062a\u062c\u0631\u064a\u0628\u064a\u064b\u0627 \u0644\u0645\u062f\u0629 \u062b\u0644\u0627\u062b\u0629 \u0623\u0634\u0647\u0631 \u0644\u0640 FCMs \u0644\u0642\u0628\u0648\u0644 \u0623\u0635\u0648\u0644 \u0631\u0642\u0645\u064a\u0629 \u0645\u062e\u062a\u0627\u0631\u0629 (\u0639\u0645\u0644\u0627\u062a \u0645\u0633\u062a\u0642\u0631\u0629 \u0645\u062f\u0641\u0648\u0639\u0629\u060c \u0628\u064a\u062a\u0643\u0648\u064a\u0646\u060c \u0648\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645) \u0643\u0647\u0627\u0645\u0634\u060c \u0643\u0645\u0627 \u0623\u0641\u0627\u062f\u062a \u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633. \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u062d\u0642\u064a\u0642\u064a \u0647\u0648 \u0627\u062e\u062a\u0628\u0627\u0631 \u0627\u0644\u0636\u063a\u0637: \u0647\u0644 \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u062a\u062d\u0645\u0644 \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0648\u0627\u0644\u0639\u0645\u0644\u064a\u0627\u062a \u0648\u0627\u0644\u0627\u0645\u062a\u062b\u0627\u0644 \u0642\u0628\u0644 \u0627\u0644\u062a\u0628\u0646\u064a \u0627\u0644\u0623\u0648\u0633\u0639 \u0628\u0645\u0648\u062c\u0628 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC \u0627\u0644\u0645\u0641\u0633\u0631 \u0641\u064a \u0627\u0644\u0628\u0631\u0627\u0645\u062c \u0627\u0644\u062a\u062c\u0631\u064a\u0628\u064a\u0629\u061f<\/p>\n\n\n

\u062a\u0642\u0648\u0645 FCMs \u0641\u064a \u0627\u0644\u0628\u0631\u0646\u0627\u0645\u062c \u0627\u0644\u062a\u062c\u0631\u064a\u0628\u064a \u0628\u0625\u062c\u0631\u0627\u0621 \u0627\u062e\u062a\u0628\u0627\u0631\u0627\u062a \u0636\u063a\u0637 \u0639\u0644\u0649 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0648\u0627\u0644\u0645\u0644\u0627\u0621\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\u060c \u0628\u064a\u0646\u0645\u0627 \u062a\u0639\u0645\u0644 \u0645\u0639 \u0645\u062c\u0645\u0648\u0639\u0627\u062a \u0630\u0627\u062a\u064a\u0629 \u0627\u0644\u062a\u0646\u0638\u064a\u0645 \u0644\u062a\u0639\u0632\u064a\u0632 \u0627\u0644\u0642\u0648\u0629 \u0627\u0644\u062a\u0634\u063a\u064a\u0644\u064a\u0629\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 CFTC. \u0641\u0642\u0637 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0627\u0644\u0623\u0643\u062b\u0631 \u0627\u0633\u062a\u0642\u0631\u0627\u0631\u064b\u0627 \u0648\u0633\u0627\u0626\u0644\u0629 \u062a\u062c\u062a\u0627\u0632 \u0647\u0630\u0627 \u0627\u0644\u0627\u062e\u062a\u0628\u0627\u0631 – \u0645\u0645\u0627 \u064a\u0639\u0646\u064a \u0623\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u062f\u0641\u0648\u0639\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\u060c \u0648\u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646\u060c \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 \u0645\u0633\u0645\u0648\u062d \u0628\u0647\u0627 \u0641\u064a \u0627\u0644\u0648\u0642\u062a \u0627\u0644\u062d\u0627\u0644\u064a.<\/p>\n\n\n

\n\n\n

\u0625\u0637\u0627\u0631 \u0627\u0644\u0639\u0645\u0644 \u0627\u0644\u062a\u0641\u0633\u064a\u0631\u064a \u0644\u0640 SEC \u0648CFTC \u0644\u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629<\/h2>\n\n\n

\u0641\u064a 17 \u0645\u0627\u0631\u0633 2026\u060c \u0623\u0635\u062f\u0631\u062a SEC \u0648CFTC \u0625\u0635\u062f\u0627\u0631\u064b\u0627 \u062a\u0641\u0633\u064a\u0631\u064a\u064b\u0627 \u0645\u0634\u062a\u0631\u0643\u064b\u0627 – \u0648\u0635\u0641\u0647 Latham & Watkins.<\/p>\n\n\n

\u062a\u0648\u0636\u062d \u0627\u0644\u0625\u0635\u062f\u0627\u0631 \u0643\u064a\u0641\u064a\u0629 \u062a\u0635\u0646\u064a\u0641 \u0627\u0644\u0623\u0635\u0648\u0644 – \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u062e\u062a\u0628\u0627\u0631 \u0639\u0642\u062f \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u060c \u0648\u0627\u0644\u0623\u0631\u0628\u0627\u062d \u0627\u0644\u0645\u062a\u0648\u0642\u0639\u0629\u060c \u0648\u0648\u062c\u0648\u062f \u0627\u0644\u0633\u064a\u0637\u0631\u0629 \u0627\u0644\u0645\u0631\u0643\u0632\u064a\u0629\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 Latham & Watkins.<\/p>\n\n\n

\n\n\n

\u0645\u0628\u0627\u062f\u0631\u0627\u062a \u0625\u0634\u0631\u0627\u0641\u064a\u0629 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0623\u0648\u0633\u0639 \u0641\u064a \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC<\/h2>\n\n\n

\u0641\u064a 2 \u064a\u0648\u0646\u064a\u0648 2026\u060c \u0623\u0635\u062f\u0631\u062a SEC \u0645\u0633\u0648\u062f\u0629 \u062e\u0637\u062a\u0647\u0627 \u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0644\u0639\u0627\u0645 2026-2030\u060c \u0643\u0645\u0627 \u064a\u0624\u0643\u062f Latham & Watkins.<\/p>\n\n\n

\u062a\u0633\u062a\u0647\u062f\u0641 \u0627\u0644\u0645\u0633\u0648\u062f\u0629 \u0627\u0644\u0625\u0634\u0631\u0627\u0641 \u0639\u0644\u0649 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0633\u064a\u0628\u0631\u0627\u0646\u064a\u0629\u060c \u0648\u0641\u0634\u0644 \u0627\u0644\u0623\u0646\u0638\u0645\u0629\u060c \u0648\u0627\u0644\u0636\u0639\u0641 \u0627\u0644\u062c\u062f\u064a\u062f \u0627\u0644\u0641\u0631\u064a\u062f \u062f\u0627\u062e\u0644 \u0627\u0644\u0634\u0628\u0643\u0627\u062a \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629. \u0645\u0645\u0627 \u064a\u062e\u0644\u0642 \u0645\u0633\u062a\u0648\u0649 \u0639\u0627\u0644\u064d \u0645\u0646 \u0627\u0644\u0627\u0645\u062a\u062b\u0627\u0644 \u0644\u0633\u0648\u0642 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 Latham & Watkins. \u0627\u0644\u0622\u0646\u060c \u062a\u0637\u0628\u0642 \u0645\u0639\u0627\u064a\u064a\u0631 \u0623\u0642\u0648\u0649 \u0644\u0644\u0627\u0645\u062a\u062b\u0627\u0644\u060c \u0648\u0627\u0644\u0645\u0631\u0627\u0642\u0628\u0629\u060c \u0648\u062d\u0645\u0627\u064a\u0629 \u0627\u0644\u0639\u0645\u0644\u0627\u0621 \u0639\u0644\u0649 FCMs\u060c \u0648\u0645\u0631\u0627\u0643\u0632 \u0627\u0644\u0645\u0642\u0627\u0635\u0629\u060c \u0648\u063a\u064a\u0631\u0647\u0627 \u0645\u0646 \u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 CFTC \u0645\u0642\u0627\u0628\u0644 SEC: \u0627\u0644\u062a\u0646\u0642\u0644 \u0641\u064a \u0627\u0644\u062a\u062f\u0627\u062e\u0644 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a \u0641\u064a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629… \u060c \u062a\u062a\u0633\u0627\u0631\u0639 \u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u062a\u062d\u062f\u064a\u062b\u060c \u0648\u0627\u0644\u0636\u063a\u0637 \u064a\u062a\u0632\u0627\u064a\u062f\u060c \u0648\u0634\u0631\u0627\u0643\u0629 SEC-CFTC \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u062a\u0635\u0628\u062d \u0645\u0639\u064a\u0627\u0631\u064b\u0627. \u0628\u0627\u0644\u062a\u0623\u0643\u064a\u062f\u060c \u064a\u062a\u0645 \u062a\u0634\u062f\u064a\u062f \u0627\u0644\u0623\u0645\u0648\u0631 \u0628\u0645\u0648\u062c\u0628 \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC \u0648\u0625\u0634\u0631\u0627\u0641 SEC.<\/p>\n\n

\u062a\u062d\u0648\u0644 Kalshi \u0625\u0644\u0649 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629: \u0644\u0645\u0627\u0630\u0627 \u062a\u0635\u0628\u062d \u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u062a\u0646\u0628\u0624\u0627\u062a \u0628\u0648\u0631\u0635\u0627\u062a \u0645\u0634\u062a\u0642\u0627\u062a

\u0625\u0642\u0631\u0627\u0631 CFTC \u0644\u0639\u0642\u062f BTCPERP \u0645\u0646 Kalshi \u0641\u064a 29 \u0645\u0627\u064a\u0648 2026 \u064a\u0634\u064a\u0631 \u0625\u0644\u0649 \u062a\u062d\u0648\u0644 \u0646\u062d\u0648 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629 \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0627\u0644\u0645\u0646\u0638\u0645\u0629\u060c \u0645\u0639 \u0623\u062d\u062c\u0627\u0645 85.3 \u062a\u0631\u064a\u0644\u064a\u0648\u0646 \u062f\u0648\u0644\u0627\u0631 \u0641\u064a 2025 \u062a\u062c\u0630\u0628 \u0635\u0627\u0646\u0639\u064a \u0627\u0644\u0633\u0648\u0642 \u0625\u0644\u0649 \u0627\u0644\u062f\u0627\u062e\u0644.https:\/\/t.co\/C3aJh6LNi9<\/a><\/p>\u2014 Crypto Daily\u2122 (@cryptodailyuk) 30 \u0645\u0627\u064a\u0648 2026<\/a><\/blockquote>\n\n\n\n

\u0648\u0641\u0642\u064b\u0627 \u0644\u0640 ‘Crypto Sprint’ \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u062a\u0633\u062a\u0645\u0631 \u0628\u064a\u0646\u0645\u0627 \u062a\u0642\u0648\u0645 CFTC \u0628\u0625\u0639\u0627\u062f\u0629 \u0627\u0644\u0647\u064a\u0643\u0644\u0629… \u060c \u062a\u0648\u0627\u062c\u0647 \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u0627\u0644\u062a\u064a \u062a\u0637\u0644\u0642 \u0645\u0646\u0635\u0627\u062a \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0644\u062d\u0638\u0629 \u062d\u0627\u0633\u0645\u0629 \u062d\u064a\u062b \u062a\u062a\u062c\u0645\u0639 \u0627\u0644\u0628\u0631\u0627\u0645\u062c \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629\u060c \u0648\u062a\u0641\u0627\u0639\u0644 \u0627\u0644\u0648\u0643\u0627\u0644\u0627\u062a. \u0643\u0644 \u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631\u0627\u062a \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u062a\u0634\u0643\u0644 \u0645\u0633\u062a\u0642\u0628\u0644\u0647\u0627\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0640 Latham & Watkins.<\/p>\n\n\n

\u0646\u0637\u0627\u0642 \u0645\u0646\u062a\u062c\u0627\u062a \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0627\u0644\u0645\u0646\u0638\u0645\u0629 \u0645\u0646 CFTC \u0645\u0648\u0636\u062d<\/h3>\n\n\n

\u062a\u0646\u0638\u0645 CFTC \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629 \u0644\u0644\u0633\u0644\u0639\u060c \u0648\u0627\u0644\u062e\u064a\u0627\u0631\u0627\u062a\u060c \u0648\u0627\u0644\u0645\u0628\u0627\u062f\u0644\u0627\u062a \u0627\u0644\u0645\u0631\u062a\u0628\u0637\u0629 \u0628\u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646\u060c \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645\u060c \u0648\u0645\u062c\u0645\u0648\u0639\u0629 \u0645\u062a\u0646\u0648\u0639\u0629 \u0645\u0646 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0627\u0644\u0623\u062e\u0631\u0649. \u0623\u0637\u0644\u0642\u062a \u0627\u0644\u0628\u0648\u0631\u0635\u0627\u062a \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629 \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 \u0646\u0642\u062f\u064b\u0627 \u0641\u064a \u0623\u0648\u0627\u062e\u0631 \u0639\u0627\u0645 2017.<\/p>\n\n\n

\u0648\u0645\u0639 \u0630\u0644\u0643\u060c \u062a\u062e\u0636\u0639 \u0643\u0644 \u0645\u0646\u062a\u062c \u062c\u062f\u064a\u062f \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0644\u0625\u0631\u0634\u0627\u062f\u0627\u062a \u0635\u0627\u0631\u0645\u0629 \u0648\u0645\u0631\u0627\u062c\u0639\u0629 \u0645\u0628\u0627\u0634\u0631\u0629 \u0645\u0646 CFTC\u060c \u0643\u0645\u0627 \u0623\u0643\u062f\u062a CFTC. \u064a\u0639\u062a\u0645\u062f \u0627\u0644\u0625\u0642\u0631\u0627\u0631 \u0639\u0644\u0649 \u0645\u0637\u0627\u0628\u0642\u0629 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u062a\u062c\u0627\u0631\u064a\u0629 \u0627\u0644\u062d\u0642\u064a\u0642\u064a\u0629 \u0645\u0639 \u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0642\u0648\u064a\u0629\u060c \u0648\u0643\u0644 \u0630\u0644\u0643 \u064a\u062a\u0645 \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646\u0647 \u0642\u0628\u0644 \u0627\u0644\u0625\u0637\u0644\u0627\u0642. \u0628\u0628\u0633\u0627\u0637\u0629\u060c \u0644\u0627 \u062a\u0648\u062c\u062f \u0627\u062e\u062a\u0635\u0627\u0631\u0627\u062a \u0647\u0646\u0627 \u0648\u0641\u0642\u064b\u0627 \u0644\u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0645\u0646 CFTC \u0627\u0644\u0645\u0641\u0633\u0631 \u0641\u064a \u0623\u062d\u062f\u062b \u0627\u0644\u062a\u062f\u0642\u064a\u0642\u0627\u062a.<\/p>\n\n\n

\n\n\n\n\n\n\n
\u0623\u0635\u0644 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0645\u0634\u0641\u0631\u0629<\/th>\n\u0623\u0647\u0644\u064a\u0629 \u0627\u0644\u0647\u0627\u0645\u0634<\/th>\n\u0639\u0628\u0621 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644<\/th>\n\u0645\u0635\u062f\u0631 \u0627\u0644\u0625\u0631\u0634\u0627\u062f\u0627\u062a<\/th>\n<\/tr>\n<\/thead>\n
\u0628\u064a\u062a\u0643\u0648\u064a\u0646\/\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645<\/td>\n\u0646\u0639\u0645 (\u0643\u063a\u064a\u0631 \u0623\u0648\u0631\u0627\u0642 \u0645\u0627\u0644\u064a\u0629)<\/td>\n20% \u0627\u0644\u062d\u062f \u0627\u0644\u0623\u062f\u0646\u0649.<\/td>\n26-05 \/ 1.17(c)(5)(ii)<\/td>\n<\/tr>\n
\u0639\u0645\u0644\u0629 \u0645\u0633\u062a\u0642\u0631\u0629 \u0645\u062f\u0641\u0648\u0639\u0629<\/td>\n\u0646\u0639\u0645 (\u0643\u063a\u064a\u0631 \u0623\u0645\u0646\u064a\u0629)<\/td>\n2% \u0627\u0644\u062d\u062f \u0627\u0644\u0623\u062f\u0646\u0649.<\/td>\n26-05<\/td>\n<\/tr>\n
\u0635\u0646\u062f\u0648\u0642 \u0633\u0648\u0642 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0645\u0631\u0645\u0632<\/td>\n\u0646\u0639\u0645 (\u0635\u0646\u0627\u062f\u064a\u0642 \u0645\u062e\u062a\u0627\u0631\u0629)<\/td>\n\u0644\u0627 \u064a\u0646\u0637\u0628\u0642<\/td>\n25-39 \/ 26-05<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n\n

\u0648\u0641\u0642\u064b\u0627 \u0644\u0645\u0648\u0631\u063a\u0627\u0646 \u0644\u0648\u064a\u0633\u060c \u064a\u062a\u063a\u064a\u0631 \u0645\u0634\u0647\u062f \u0627\u0644\u0627\u0645\u062a\u062b\u0627\u0644 \u0644\u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0634\u0641\u0631\u0629 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0627\u0644\u0622\u0646 \u0628\u0627\u0633\u062a\u0645\u0631\u0627\u0631 – \u0645\u062f\u0641\u0648\u0639\u064b\u0627 \u0628\u062a\u062f\u0642\u064a\u0642\u0627\u062a \u062c\u062f\u064a\u062f\u0629\u060c \u0648\u0625\u0646\u0641\u0627\u0630 \u062c\u062f\u064a\u062f\u060c \u0648\u062a\u062d\u0648\u0644\u0627\u062a \u0641\u064a \u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644\u0627\u062a \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629. \u0644\u064a\u0633 \u0623\u0645\u0627\u0645 \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u062e\u064a\u0627\u0631 \u0633\u0648\u0649 \u0645\u0648\u0627\u0643\u0628\u0629 \u0631\u0633\u0627\u0626\u0644 \u0627\u0644\u0645\u0648\u0638\u0641\u064a\u0646 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u0627\u0644\u0645\u062a\u0637\u0648\u0631\u0629 \u0648\u0627\u0644\u0645\u0628\u0627\u062f\u0631\u0627\u062a \u0627\u0644\u062a\u062c\u0631\u064a\u0628\u064a\u0629 \u0625\u0630\u0627 \u0623\u0631\u0627\u062f\u062a \u0627\u0644\u0628\u0642\u0627\u0621 \u062a\u0646\u0627\u0641\u0633\u064a\u0629.<\/p>\n\n“`","protected":false},"excerpt":{"rendered":"

\u062a\u0645 \u0634\u0631\u062d \u062a\u0646\u0638\u064a\u0645 \u0645\u0634\u062a\u0642\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0645\u0646 \u0642\u0628\u0644 CFTC\u060c \u0628\u0645\u0627 \u0641\u064a \u0630\u0644\u0643 \u0642\u0648\u0627\u0639\u062f \u0627\u0644\u0636\u0645\u0627\u0646\u0627\u062a \u0644\u0639\u0627\u0645 2026\u060c \u0648\u062a\u0641\u0627\u0635\u064a\u0644 \u0628\u0631\u0646\u0627\u0645\u062c \u0627\u0644\u0637\u064a\u0627\u0631\u060c \u0648\u0625\u0631\u0634\u0627\u062f\u0627\u062a SEC-CFTC. \u0627\u0641\u0647\u0645 \u0627\u0644\u0625\u0637\u0627\u0631 \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a \u0627\u0644\u0622\u0646.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"CFTC crypto derivatives regulation explained","_yoast_wpseo_metadesc":"CFTC crypto derivatives regulation explained, including 2026 collateral rules, pilot program details, and SEC-CFTC guidance. 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