According to CoinMeta, the Commodity Futures Trading Commission (CFTC) has proposed to eliminate order book requirements for certain swap transactions, and public comments will be accepted within 30 days after the announcement is published in the Federal Register. In a regulatory notice on August 20th, the CFTC stated that it was seeking feedback on revisions to Section 37.3(a)(2), which specifies the minimum trading functions that swap execution facilities must provide. Under the proposal, there will no longer be a requirement to maintain an order book for permitted transactions. Current rules require each registered exchange to maintain an order book for all swaps listed on its platform. CFTC Chair Gary Gensler stated that eliminating these so-called "excessive requirements" will align the commission with its principle-based approach to derivatives regulation. The proposal applies only to the minimum order book functions specified in Section 37.3(a)(2), and Gensler indicated that removing this requirement will allow exchanges to allocate resources on their platforms according to customer needs.