Federal Regulatory Agencies
Here's a look at documents from federal regulatory agencies
Featured Stories
FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following news release:
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FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
Decision Helps Restore Our Airspace Sovereignty and Unleash American Drone Dominance Without Disrupting Ongoing Use of Previously Authorized Drones
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As President Trump stated in the Restoring American Airspace Sovereignty Executive Order, unmanned aircraft systems (UAS), otherwise known as drones, offer the potential to greatly enhance public safety and innovation. At the same time, criminals,
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WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following news release:
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FCC Updates Covered List to Include Foreign UAS and UAS Critical Components on Going Forward Basis
Decision Helps Restore Our Airspace Sovereignty and Unleash American Drone Dominance Without Disrupting Ongoing Use of Previously Authorized Drones
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As President Trump stated in the Restoring American Airspace Sovereignty Executive Order, unmanned aircraft systems (UAS), otherwise known as drones, offer the potential to greatly enhance public safety and innovation. At the same time, criminals,hostile foreign actors, and terrorists can use them to present new and serious threats to our homeland. As the United States prepares to host several mass-gathering events, including the 2026 FIFA World Cup, America250 celebrations, and the 2028 LA Summer Olympics, the federal government is taking additional actions to safeguard Americans and restore American airspace sovereignty.
Additionally, as President Trump's Unleashing American Drone Dominance Executive Order and National Security Strategy outlined, ensuring a strong and resilient drone industrial base is an economic and national security priority. Relying on foreign-made UAS threatens national security.
Yesterday, following a thorough review by an Executive Branch interagency body with appropriate national security expertise that was convened by the White House, the FCC received a specific determination that UAS and UAS critical component parts that are produced in foreign countries pose "unacceptable risks to the national security of the United States and to the safety and security of U.S. persons" and should be included on the FCC's Covered List, unless the Department of War or the Department of Homeland Security makes a specific determination to the FCC that a given UAS, class of UAS, or UAS critical component does not pose such risks. The determination includes the equipment and services listed in Section 1709 of the FY25 National Defense Authorization Act.
Therefore, consistent with this National Security Determination, the FCC updated the Covered List to include UAS and UAS critical components produced abroad.
As specified below, today's decision does not impact a consumer's ability to continue using drones they previously purchased or acquired. Nor does today's decision prevent retailers from continuing to sell, import, or market device models approved earlier this year or previously through the FCC's equipment authorization process. By operation of the FCC's Covered List rules, the restrictions imposed by today's decision apply to new device models.
Chairman Carr issued the following statement:
"I welcome this Executive Branch national security determination, and I am pleased that the FCC has now added foreign drones and related components, which pose an unacceptable national security risk, to the FCC's Covered List. Following President Trump's leadership, the FCC will work closely with U.S. drone makers to unleash American drone dominance."
Additional Background:
* The FCC's Covered List is a list of communications equipment and services that are deemed to pose an unacceptable risk to the national security of the U.S. or the safety and security of U.S. persons.
* Under the Secure and Trusted Communications Networks Act, the Commission can update the Covered List only at the direction of national security authorities. In other words, the Commission cannot update this list on its own and is required to implement determinations that are made by our national security agency experts.
* Equipment on the Covered List ("covered" equipment) is prohibited from getting FCC equipment authorization. Most wireless devices require FCC equipment authorization prior to importation, marketing, or sale in the U.S. Covered equipment is banned from receiving new equipment authorizations, preventing new devices from entering the U.S. market.
* The Cybersecurity and Infrastructure Security Agency encourages organizations to use the Covered List for risk management analysis in their regulatory compliance efforts.
* In their determination, national security agencies referenced, among other things, concerns that that foreign-made UAS could be used for attacks and disruptions, unauthorized surveillance, sensitive data exfiltration, and other UAS threats to the homeland. Additionally, the determination noted that reliance on such devices unacceptably undermines the U.S. drone industrial base.
What does this mean?
* New devices on the Covered List, such as foreign-made drones, are prohibited from receiving FCC authorization and are therefore prohibited from being imported for use or sale in the U.S. This update to the Covered List does not prohibit the import, sale, or use of any existing device models the FCC previously authorized.
* This action does not affect any previously-purchased drone. Consumers can continue to use any drone they have already lawfully purchased or acquired. \
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Original text here: https://docs.fcc.gov/public/attachments/DOC-416839A1.pdf
FCC COMMISSIONER GOMEZ ON ALARMING REPORTS OF EDITORIAL INTERFERENCE AT 60 MINUTES
WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following statement on Dec. 22, 2025:
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FCC COMMISSIONER GOMEZ ON ALARMING REPORTS OF EDITORIAL INTERFERENCE AT 60 MINUTES
FCC Commissioner Anna M. Gomez issued the following statement in response to reports that CBS News delayed a 60 Minutes segment following the federal government's refusal to respond to thoroughly vetted, independent reporting:
"Against the backdrop of increased government pressure, reports that CBS News interfered with the editorial judgment of 60 Minutes are deeply alarming and strike at the
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WASHINGTON, Dec. 23 -- The Federal Communications Commission issued the following statement on Dec. 22, 2025:
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FCC COMMISSIONER GOMEZ ON ALARMING REPORTS OF EDITORIAL INTERFERENCE AT 60 MINUTES
FCC Commissioner Anna M. Gomez issued the following statement in response to reports that CBS News delayed a 60 Minutes segment following the federal government's refusal to respond to thoroughly vetted, independent reporting:
"Against the backdrop of increased government pressure, reports that CBS News interfered with the editorial judgment of 60 Minutes are deeply alarming and strike at theheart of press freedom. When the FCC withheld approval of Paramount's transaction to extract sweeping concessions, I warned that allowing the government to wield regulatory leverage in newsroom decision-making would inevitably threaten independent journalism. We are now seeing the real-world consequences of blurring the line between regulatory authority and editorial independence.
"A free press cannot function if the government is able to exercise veto power over critical reporting simply by refusing to engage. That is fundamentally incompatible with the First Amendment and the role of journalists in holding those in power to account. These concerns are only heightened when a media company seeking favorable action on future regulatory approvals tempers or delays coverage critical of this Administration, raising serious questions about whether editorial decisions are being influenced by external pressure rather than journalistic judgment.
"The public has the right to question how CBS will ensure the independence and integrity of its journalism going forward, concerns which are only compounded by the existence of a government-imposed media monitor at CBS, a deeply flawed and unprecedented form of government involvement in editorial affairs. In the days ahead, I hope CBS provides its viewers with a clear accounting of how this decision was made and demonstrates how it will safeguard the independence of its newsroom."
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Original text here: https://docs.fcc.gov/public/attachments/DOC-416848A1.pdf
SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
WASHINGTON, Dec. 22 -- The Securities and Exchange Commission issued the following news release:
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SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
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The Securities and Exchange Commission today filed charges against purported crypto asset trading platforms Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc. and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation alleging that they defrauded retail
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WASHINGTON, Dec. 22 -- The Securities and Exchange Commission issued the following news release:
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SEC Charges Three Purported Crypto Asset Trading Platforms and Four Investment Clubs with Scheme That Targeted Retail Investors on Social Media
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The Securities and Exchange Commission today filed charges against purported crypto asset trading platforms Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc. and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation alleging that they defrauded retailinvestors out of more than $14 million in an elaborate investment confidence scam.
"This matter highlights an all-too-common form of investment scam that is being used to target U.S. retail investors with devastating consequences. Our complaint alleges a multi-step fraud that attracted victims with ads on social media, built victims' trust in group chats where fraudsters posed as financial professionals and promised profits from AI-generated investment tips, then convinced victims to put their money into fake crypto asset trading platforms where it was misappropriated," said Laura D'Allaird, Chief of the Cyber and Emerging Technologies Unit. "Fraud is fraud, and we will vigorously pursue securities fraud that harms retail investors."
According to the complaint, from at least January 2024 to January 2025, AI Wealth, Lane Wealth, AIIEF, and Zenith operated so-called investment clubs using WhatsApp and solicited investors to join the clubs with ads on social media. The clubs gained investors' confidence with supposedly AI-generated investment tips before luring investors to open and fund accounts on purported crypto asset trading platforms Morocoin, Berge, and Cirkor, which falsely claimed to have government licenses, as alleged. The investment clubs and platforms then allegedly offered "Security Token Offerings" that were purportedly issued by legitimate businesses. In reality, no trading took place on the trading platforms, which were fake, and the Security Token Offerings and their purported issuing companies did not exist, according to the complaint. When investors tried to withdraw their funds, the complaint alleges that the defendants further defrauded victims by demanding that they pay advance fees. In all, the defendants misappropriated at least $14 million from U.S.-based retail investors and funneled those funds overseas through a web of bank accounts and crypto asset wallets, as alleged.
The complaint, filed in the United States District Court for the District of Colorado, charges the defendants with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC seeks permanent injunctions and civil penalties against all of the defendants, and disgorgement with prejudgment interest against Morocoin, Berge, and Cirkor.
The SEC's Office of Investor Education and Assistance has issued an investor alert warning investors that fraudsters may use popular social media platforms and messaging apps to lure investors into scams, and never to rely solely on information from group chats in making investment decisions. The SEC encourages investors to use Investor.gov to check the background of anyone offering or selling them an investment.
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Original text here: https://www.sec.gov/newsroom/press-releases/2025-144-sec-charges-three-purported-crypto-asset-trading-platforms-four-investment-clubs-scheme-targeted
Michael Selig Sworn In as 16th CFTC Chairman
WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Michael Selig Sworn In as 16th CFTC Chairman
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WASHINGTON Michael S. Selig was sworn in today to serve as the 16th Chairman of the Commodity Futures Trading Commission. Chairman Selig was nominated by President Donald J. Trump to the post on October 27, 2025, and confirmed by the U.S. Senate on December 18, 2025.
"I'm grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time," Chairman Selig said. "Today begins a new chapter
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WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Michael Selig Sworn In as 16th CFTC Chairman
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WASHINGTON Michael S. Selig was sworn in today to serve as the 16th Chairman of the Commodity Futures Trading Commission. Chairman Selig was nominated by President Donald J. Trump to the post on October 27, 2025, and confirmed by the U.S. Senate on December 18, 2025.
"I'm grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time," Chairman Selig said. "Today begins a new chapterfor the CFTC. We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation to the President's desk, cementing the U.S. as the Crypto Capital of the World. I welcome the vital responsibility to oversee the stability and security of America's commodity derivatives markets during this period of rapid transformation. No agency is better suited to pioneer commonsense rules of the road for the new financial markets of America's Golden Age than the Commodity Future s Trading Commission. Under my leadership. The CFTC will conquer these great frontiers and ensure that the innovations of tomorrow are Made in America."
Chairman Selig brings to the role deep public and private sector experience working with a wide range of stakeholders across agriculture, energy, financial, and digital asset industries, which rely upon and operate in CFTC-regulated markets.
Chairman Selig most recently served as chief counsel of the Securities and Exchange Commission's Crypto Task Force and senior advisor to SEC Chairman Paul S. Atkins. In this role, Chairman Selig helped to develop a clear regulatory framework for digital asset securities markets, harmonize the SEC and CFTC regulatory regimes, modernize the agency's rules to reflect new and emerging technologies, and put an end to regulation by enforcement. He also participated in the President's Working Group on Digital Asset Markets and contributed to its report on "Strengthening American Leadership in Digital Financial Technology."
Prior to government service, Chairman Selig was a partner at an international law firm, focusing on derivatives and securities regulatory matters. During his years in private practice, he represented a broad range of clients subject to regulation by the CFTC, including commercial end users, futures commission merchants, commodity trading advisors, swap dealers, designated contract markets, derivatives clearing organizations, and digital asset firms. Chairman Selig advised clients on compliance with the Commodity Exchange Act and the CFTC's rules and regulations thereunder, including in connection with registration applications and obligations, enforcement matters, and complex transactions.
Chairman Selig earned his law degree from The George Washington University Law School and was articles editor of The George Washington Law Review. He received his undergraduate degree from Florida State University.
-CFTC-
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9164-25
CFTC Acting Chairman Pham Issues Statement on International Pre-Hedging Report
WASHINGTON, Dec. 22 (TNSrpt) -- The Commodity Futures Trading Commission issued the following statement on Dec. 19, 2025, by Acting Chairman Caroline D. Pham on the International Organization of Securities Commissions Pre-Hedging Report:
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As Acting Chairman of the CFTC, I welcome IOSCO's final report on pre-hedging. Pre-hedging is a well-established risk management practice, underpinned by extensive industry guidance and expertise. I am proud that the CFTC played an active role in IOSCO's efforts, contributing to the review of existing codes and practices, the survey of members and industry
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WASHINGTON, Dec. 22 (TNSrpt) -- The Commodity Futures Trading Commission issued the following statement on Dec. 19, 2025, by Acting Chairman Caroline D. Pham on the International Organization of Securities Commissions Pre-Hedging Report:
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As Acting Chairman of the CFTC, I welcome IOSCO's final report on pre-hedging. Pre-hedging is a well-established risk management practice, underpinned by extensive industry guidance and expertise. I am proud that the CFTC played an active role in IOSCO's efforts, contributing to the review of existing codes and practices, the survey of members and industryparticipants, the formal consultation process, and the stakeholder roundtables.
IOSCO's final report rightly acknowledges that individual member jurisdictions already have rules in place to address pre-hedging, complemented by industry codes and standards such as the FX Global Code, the Global Precious Metals Code, and the Financial Markets Standards Board (FMSB) Standard for execution of Large Trades in FICC markets. Importantly, IOSCO has made clear that its recommendations are designed to support existing rules and regulations, recognizing that many jurisdictional frameworks are already achieving the intended outcomes. IOSCO has also made clear that its recommendations, which apply across asset classes, align with these industry codes and standards. I believe this alignment is critical to avoid disruption of markets that are essential to the real economy, mitigate systemic risk and promote financial stability.
The publication of IOSCO's final report serves to reinforce the standards the CFTC sets for entities within our jurisdiction. For the avoidance of doubt, the views expressed in the IOSCO report reflect the CFTC's position on pre-hedging. In light of this, I do not anticipate the need for further CFTC rulemaking or guidance to address IOSCO's recommendations.
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REPORT: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD805.pdf
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Original text here: https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement121925
Acting Chairman Pham Announces New Member of Global Markets Advisory Committee's Digital Asset Markets Subcommittee
WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Pham Announces New Member of Global Markets Advisory Committee's Digital Asset Markets Subcommittee
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced Rob Hadick of Dragonfly Capital Partners has joined the Global Markets Advisory Committee's Digital Asset Markets Subcommittee. Acting Chairman Pham currently sponsors the GMAC.
Hadick is a General Partner at Dragonfly Capital Partners, where he focuses on digital asset investment
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WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Pham Announces New Member of Global Markets Advisory Committee's Digital Asset Markets Subcommittee
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced Rob Hadick of Dragonfly Capital Partners has joined the Global Markets Advisory Committee's Digital Asset Markets Subcommittee. Acting Chairman Pham currently sponsors the GMAC.
Hadick is a General Partner at Dragonfly Capital Partners, where he focuses on digital asset investmentstrategy, market structure innovation, and expanding global market opportunities across blockchain-based financial systems.
"Rob's deep insight into digital asset markets and his experience at the intersection of technology and finance make him an invaluable addition to the GMAC's Digital Asset Markets Subcommittee," Acting Chairman Pham said. "I am extremely grateful for the hard work, dedication, and thoughtful contributions of all members of the GMAC and its three subcommittees, Global Market Structure, Digital Asset Markets and Technical Issues, throughout my time as Acting Chairman and Commissioner. Their expertise and commitment have been invaluable to the Commission, and I look forward to the important work the GMAC and its subcommittees will continue to deliver in support of the CFTC's mission. Thank you to Amy, Darcy, Brad, Sandy, Scott, Tara, and Allison for their leadership and tireless service as chairs of the GMAC and its subcommittees."
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9162-25
Acting Chairman Caroline D. Pham Announces Departure from CFTC
WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Caroline D. Pham Announces Departure from CFTC
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced her departure from public service. Her last day at the Commission will be December 22, 2025.
Pham was sworn in as a CFTC Commissioner on April 14, 2022, after being nominated by the President and unanimously confirmed by the U.S. Senate. She was designated as the CFTC's Acting Chairman on January 20, 2025, following the inauguration
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WASHINGTON, Dec. 22 -- The Commodity Futures Trading Commission issued the following news release:
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Acting Chairman Caroline D. Pham Announces Departure from CFTC
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WASHINGTON Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced her departure from public service. Her last day at the Commission will be December 22, 2025.
Pham was sworn in as a CFTC Commissioner on April 14, 2022, after being nominated by the President and unanimously confirmed by the U.S. Senate. She was designated as the CFTC's Acting Chairman on January 20, 2025, following the inaugurationof President Donald J. Trump.
"It has been the honor of a lifetime to lead the CFTC during such a historic moment for market structure and innovation," said Acting Chairman Pham. "I am incredibly proud of the CFTC and all its dedicated staff for their hard work and commitment this year to deliver on our pledge to get back to basics and regular order. As I said at the beginning of the year, as the CFTC celebrates our 50 th anniversary, we have always served our mission to promote market integrity and liquidity in the commodity derivatives markets that are critical to the real economy and global trade ensuring American growers, producers, merchants, and other commercial end-users can mitigate risks to their business and support strong U.S. economic growth.
"This year, we also refocused on our mandate to promote responsible innovation and fair competition as the CFTC prepares to take on expanded oversight of new markets and new products like digital assets, crypto, and prediction markets. I am deeply grateful for the CFTC's expertise, experience, and care in safeguarding the public's trust while championing progress, growth, and access to markets. I am thrilled to welcome Michael Selig as the 16 th Chairman of the CFTC. His pragmatic, common sense approach will ensure the CFTC strikes the right balance of innovation and market integrity."
During Acting Chairman Pham's tenure at the CFTC, she has been a champion for good government, proposing and implementing a number of reforms to protect Constitutional rights and promote due process and transparency. Pham's decisive leadership delivered results this year on providing regulatory clarity, right-sizing regulations, promoting innovation, ending regulation by enforcement, and modernizing the CFTC's operations for both efficiency and effectiveness.
Accomplishments include addressing longstanding Dodd-Frank Act issues and swaps regulation, issuing a comprehensive framework for self-reporting and cooperation in enforcement actions and referrals for non-compliance issues, and enabling innovation in market structure, such as perpetual contracts, 24/7 trading, and prediction markets. Pham launched the CFTC's Crypto Sprint to implement the President's Working Group on Digital Asset Markets report recommendations, achieving historic milestones such as listed spot crypto trading on CFTC-registered futures exchanges, digital asset markets pilot program, tokenized collateral guidance, and the CFTC Crypto CEO Forum and CEO Innovation Council.
Her CFTC modernization efforts include deploying the CFTC's first automated market surveillance system, saving nearly $50 million in annualized costs, and restructuring the CFTC's organization and operations to maximize efficiency and effectiveness. Pham's efforts to reduce regulatory burdens to promote U.S. economic growth has resulted in unlocking many tens of billions of dollars of capital and collateral regulatory relief and saving an estimate of hundreds of millions of dollars annually for market participants, as well as launching a pilot program to increase liquidity and hedging in energy markets and deliver potentially billions in energy savings.
-CFTC-
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9163-25
