CFTC chair says U.S. crypto exchanges will not be allowed to offer high leverage

U.S. Commodity Futures Trading Commission Chairman Michael Selig said in a CNBC interview that under the crypto regulatory framework being prepared by the CFTC, leveraged trading will be allowed only on federally regulated crypto exchanges. Selig added that leverage of up to 100x, seen on offshore exchanges, has never been permitted in the United States and will not be allowed under the new framework. The CFTC had previously indicated it would limit excessive leverage in the U.S. crypto derivatives market.