CFTC Explores Allowing MiCA-Licensed Crypto Platforms to Operate in U.S. Markets

The U.S. Commodity Futures Trading Commission (CFTC) is considering permitting trading platforms authorized under Europe's Markets in Crypto-Assets Regulation (MiCA) to serve American participants. Acting Chairman Caroline D. Pham revealed the agency's exploratory stance during a meeting with UK lawmakers, signaling a potential shift in cross-border crypto market access.

Pham noted that years of regulatory ambiguity in the U.S. drove many firms to establish operations abroad, particularly in jurisdictions with clearer frameworks like MiFID or the forthcoming MiCA regime. Her comments suggest Europe's landmark crypto regulation could become a bridge for transatlantic market participation.

The CFTC's cross-border recognition rules may soon accommodate platforms compliant with MiCA or similar international crypto asset regimes. This development marks a potential turning point in U.S. crypto regulation, following what Pham characterized as an "enforcement-first approach" in recent years.