CFTC Advances Spot Crypto Trading Initiative Under Pham’s Leadership

The U.S. Commodity Futures Trading Commission has unveiled a plan to permit spot cryptocurrency trading on regulated platforms, marking a significant step toward mainstream adoption. Acting Chairman Caroline Pham framed the move as part of a broader 'crypto sprint' to implement recommendations from the President's Working Group on Digital Asset Markets.

Registered Designated Contract Markets may soon list crypto spot contracts under existing Commodity Exchange Act provisions. The proposal specifically addresses Leveraged retail trading, requiring such activity to occur exclusively on approved venues. 'We're establishing clear rules of the road for margin trading and financing arrangements,' Pham noted in her announcement.

Market participants have until August 18 to submit comments on the initiative, which coordinates with the SEC's Project crypto efforts. The CFTC maintains that current law already provides the necessary framework, potentially accelerating implementation timelines.