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The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to. 

The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws. 

A lot of bigger questions remain without the CLARITY Act. The bill aimed to establish a federal framework for digital commodities and delineate the roles of the SEC and the CFTC. 

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The Lalabet case, which reached a milestone in June, saw a Dutch court rule largely in favour of the lottery operator. 

It found Lalabet’s operators and directors had acted unlawfully by targeting Dutch players and ordered them to cease activities and provide detailed ownership and shareholder information.

The court also explored potential liabilities for trust administrators and local representatives who facilitate illegal gambling sites. 

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Another proposed action from the leagues centres around the creation of a standardised, cross-operator reporting platform that will allow players, unions and leagues to “securely transmit verified evidence of threats” to state regulators.

Maloney leads an association that features sportsbook powerhouses such as DraftKings, FanDuel, Fanatics and Bet365.

“We welcome efforts by leagues, players and regulators to build on that work and make clear that harassment has no place in sports,” Maloney told iGB.