The U.S. Commodity Futures Trading Commission (CFTC) announced it is looking to permit the trading of spot crypto contracts on registered exchanges and is seeking input from stakeholders to implement President Donald Trump’s crypto goals.
The agency aims for stakeholders to collaborate on providing regulatory clarity for listing spot crypto asset contracts on a CFTC registered futures exchange, known as a designated contract market (DCM), Acting Chairman Caroline Pham stated in a recent announcement.
“Starting today, we invite all stakeholders to work with us on providing regulatory clarity on how to list spot crypto asset contracts on a DCM using our existing authority, as I have proposed since 2022,” Pham stated. “Together, we will make America the crypto capital of the world.”
The “listed spot crypto trading initiative” marks the CFTC’s first step in response to Trump’s working group on digital asset markets report that was published recently. The report outlined expectations for U.S. regulators, emphasizing that the CFTC will facilitate digital asset trading by clarifying areas such as registration and custody.
This initiative also aligns with the Securities and Exchange Commission’s “Project Crypto,” an effort to modernize securities regulations to allow financial markets to transition to blockchain technology, according to SEC Chairman Paul Atkins.
“Under President Trump’s strong leadership and vision, the CFTC is full speed ahead on enabling immediate trading of digital assets at the Federal level in coordination with the SEC’s Project Crypto,” Pham indicated.
Stakeholders are encouraged to submit their suggestions on listing spot crypto asset contracts by August 18.
Congress is also working on defining the roles of the CFTC and SEC in overseeing crypto, with market structure legislation — such as the House of Representatives’ Clarity Act — aiming to position the commodities regulator as the primary overseer of the spot market for crypto.
Leave a Reply