CFTC greenlights spot crypto trading on US exchanges

The US Commodity Futures Trading Commission (CFTC) has approved the trading of spot cryptocurrency products on federally regulated futures exchanges. Acting CFTC Chair Caroline Pham stated this move is intended to direct trading activity toward US exchanges, which possess "basic safeguards," rather than offshore platforms. Pham noted the approval aligns with policy directives from former US President Donald Trump and follows recommendations from the President’s Working Group on Digital Asset Markets, along with consultations from the CFTC’s “Crypto Sprint” initiative. She emphasized that this allows spot crypto to trade on CFTC-registered exchanges, upholding high standards of customer protection and market integrity. Pham, who assumed the acting chair role in January, is expected to step down upon the confirmation of a replacement, such as Michael Selig, who was nominated by Trump.

(Source：Cointelegraph)