CFTC approves spot cryptocurrency trading on US exchanges
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The Commodity Futures Trading Commission (CFTC) has for the first time authorized spot cryptocurrency trading on federally regulated futures exchanges, opening a new chapter in U.S. oversight of digital assets and providing investors with a safer, domestic alternative to offshore platforms. Summary The CFTC has authorized spot cryptocurrency trading on federally regulated U.S. futures exchanges for the first time. The move brings leveraged retail crypto trades under federal rules, providing U.S. investors with a regulated alternative to offshore platforms. Multiple major exchanges—including CME, Cboe, ICE, and Coinbase—are in talks with the CFTC to launch spot and leveraged crypto products. Acting CFTC Chair Caroline Pham announced Thursday that exchanges registered with the agency may now list spot cryptocurrency products, including major digital assets such as Bitcoin and Ethereum. The move marks a historic expansion of the CFTC’s regulatory reach, which until now focused primarily on derivatives like futures and options. “Spot cryptocurrency will now trade on exchanges that have operated under federal standards for nearly a century,” Pham said, emphasizing that the policy aims to give U.S. investors access to regulated venues with established market protections. Previously, spot trading largely occurred on offshore platforms with limited oversight, leaving retail participants exposed to heightened risk. Under the new framework, leveraged retail crypto trades will also fall under federal rules, aligning digital assets with traditional commodities markets. The change follows guidance from the President’s Working Group on Digital Asset Markets and months of coordination between the CFTC and the Securities and Exchange Commission, which clarified that registered exchanges are permitted to support certain spot crypto trades. Pham linked the approval to the agency’s broader Crypto Sprint initiative, which seeks to modernize clearing, settlement, and record-keeping systems for digital assets, explore tokenized collateral, and assess stablecoin use in derivatives markets. Multiple exchanges—including CME Group,…
Filed under: News - @ December 4, 2025 11:26 pm