A proposal passed by the US Commodity Futures Trading Commission (CFTC) requires derivatives clearing organizations (DCOs), the main intermediaries in the industry, to separate customer funds from their own funds. The proposal will now enter a period of public comment, which is a crucial step in the process of developing rules that apply to all companies under commodity regulatory agencies. The goal of the proposed rules is to protect customer funds if DCOs face liquidity constraints, such as a large number of withdrawal requests from cryptocurrency exchanges.