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The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to. 

The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws. 

A lot of bigger questions remain without the CLARITY Act. The bill aimed to establish a federal framework for digital commodities and delineate the roles of the SEC and the CFTC. 

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Bally’s CEO Robeson Reeves thanked Mircheva for her contribution and expressed confidence in Papanier’s ability to ensure continuity during the transition.

“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio and growth strategy,” Reeves said.

“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”

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Both Squires and his predecessor, Coke Morgan Stewart, made it harder for filers to get in front of the PTAB, typically citing patent ages or court rulings.

In April, Interactive Games LLC, a unit of Cantor, sued DraftKings and Flutter Entertainment’s FanDuel, alleging the two largest domestic online sportsbook operators infringed on its patents. That suit arrived a decade after Interactive Games brought similar litigation against the sports wagering giants, which was challenged by both companies.

In the suit brought earlier this year, the Cantor unit accuses the two gaming companies of infringing on five of its patents and requested an undisclosed amount of financial damages.