Commodity Futures Trading Commission chair Rostin Behnam said that a proposal by FTX, a crypto derivatives exchange, to create a “direct clearing” model should be looked at carefully.

“The request represents an innovative proposal that deserves careful consideration as to whether its operation will be core principles that prioritise customer protections, market stability and resiliency, among other important safeguards,” Behnam said while speaking at the International Swaps and Derivatives Association’s AGM.