Spot Crypto Assets Get Nod For Trading On CFTC-Registered Futures Exchanges
Alex Smith
5 months ago
The US Commodity Futures Trading Commission (CFTC) announced on Thursday that spot crypto asset contracts will soon be available for trading on futures exchanges that are registered with the agency, aligning with the positive regulatory changes championed by President Donald Trumpâs administration.Â
Crypto Sprint Progress
The CFTC disclosed that this recent decision follows recommendations from the Presidentâs Working Group on Digital Asset Markets and insights gathered from the CFTCâs Crypto Sprint initiative, as well as collaborative efforts with the Securities and Exchange Commission (SEC).Â
Acting CFTC Chairman Caroline Pham highlighted the importance of providing Americans with access to safe and regulated markets, stating, âRecent events on offshore exchanges have shown us how essential it is for Americans to have more choice and access to safe, regulated US markets.â
In addition to the introduction of spot trading, the Crypto Sprint initiative includes measures to enable tokenized collateralâsuch as stablecoinsâwithin derivatives markets.Â
The CFTC also plans to implement regulatory updates to facilitate the use of blockchain technology in various operational areas, including collateral, margin, clearing, settlement, reporting, and recordkeeping.
Historic Shift In CFTCâs Digital Asset Trading Move
Market expert MartyParty on social media stated that this latest move is an historic decision that will empower retail and institutional traders to buy, sell, and leverage crypto assets directly on CFTC-registered exchanges. MartyParty further noted:
Itâs the culmination of years of regulatory groundwork, including a joint SEC-CFTC statement clarifying that existing laws already permit such trading on registered venues.
Pham remarked on the collaborative efforts of the administration, stating that President Trumpâs leadership has fostered a comprehensive plan for the US to reclaim its status as a global leader in digital asset markets. As she noted, âThe CFTC has a central role to playâ in this initiative.
Featured image from DALL-E, chart from TradingView.comÂ
Related Articles
Brokerage Giant Charles Schwab Rolls Out Spot Crypto Trading To Retail Investors
Brokerage and banking firm Charles Schwab officially began rolling out its crypt...
Bhutan Transfers $8 Million In Bitcoin Amid Ongoing Bitcoin Liquidation
Bhutan could walk away with roughly $767 million in total profit if it sells its...
Warren Files 40 CLARITY Act Amendments To Keep XRP Out of US Banking System, Expert Reveals
As the Senate Banking Committeeâs long-awaited markup of the CLARITY Act nears,...
Crypto Superapp Legend Announces Shutdown As Industry Shakeout Continues
Mainstream crypto users don’t care whether a product runs on a blockchain...