CFTC Approves Spot Cryptocurrency Trading on Regulated U.S. Exchanges
The Commodity Futures Trading Commission (CFTC) has made a landmark decision to approve spot cryptocurrency trading on federally regulated exchanges, marking the first such authorization in U.S. history. Acting Chairman Caroline Pham announced the move, emphasizing the agency's commitment to responsible innovation and customer protection.
Bitnomial, a Chicago-based derivatives exchange, is set to launch the first platform offering spot crypto trading during the week of December 8. The decision comes after years of regulatory ambiguity, with the CFTC previously favoring enforcement actions over clear guidelines for crypto markets.
The approval provides both retail and institutional traders access to regulated domestic markets, addressing concerns about offshore exchange risks. Pham noted the agency's flexible regulatory approach aims to balance innovation with robust consumer safeguards.