US Derivatives Watchdog to Open Futures Exchanges to Spot Crypto Trading
Main Idea
The CFTC plans to allow registered futures exchanges to offer spot trading for cryptocurrencies like Bitcoin and Ethereum, as part of a broader initiative to modernize crypto regulation and improve coordination with the SEC.
Key Points
1. CFTC Acting Chairman Caroline Pham announced the plan, calling it the first step in the commission’s 'crypto sprint' initiative.
2. The proposal would enable federally registered futures exchanges (DCMs) to facilitate spot crypto trading, pending stakeholder feedback by August 18, 2025.
3. The move reflects growing coordination between the CFTC and SEC to clarify crypto regulation, with the SEC also introducing 'Project Crypto' to modernize securities laws for blockchain-based assets.
4. The initiative could lead to a dual-agency regulatory framework for digital assets, addressing institutional and retail demand for clearer rules.
5. Stakeholders are invited to provide input on the CFTC’s website, with public feedback expected to shape the final regulatory approach.
Description
The Commodity Futures Trading Commission plans to allow spot cryptocurrency trading on exchanges it already regulates, expanding access to digital assets through federally registered futures markets. CFTC Acting Chairman Caroline Pham unveiled the plan on Monday, calling it the first move in the commission’s broader “ crypto sprint ,” a program aimed at quickly implementing key policy recommendations from the President’s Working Group on Digital Asset Markets. Pham framed the effort as part of a...
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