The Commodity Futures Trading Commission (CFTC) is set to formalize protections for non-custodial wallet developers, according to Chair Michael Selig. Speaking at CoinDesk’s Consensus Miami conference, Selig announced plans to codify the CFTC's previous stance into regulation, ensuring that developers of self-custody wallet software meeting certain conditions are not required to register as brokers. This move follows a no-action letter issued in March to crypto wallet provider Phantom, which clarified the regulatory position for such developers. Selig emphasized the CFTC's commitment to swiftly finalizing the rulemaking process, aiming to provide clear guidance for companies developing and offering software in the United States.