US CFTC Considers Allowing Futures Exchanges to Conduct Cryptocurrency Spot Trading

According to ChainCatcher, citing a report from CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) has announced that it is considering allowing spot cryptocurrency trading on already registered futures exchanges, and is seeking input from stakeholders to implement President Trump’s objectives for cryptocurrency development.

Caroline Pham, Acting Chair of the CFTC, stated on Monday that the agency hopes stakeholders will assist in providing regulatory clarity on how to list spot crypto assets on CFTC-registered futures exchanges, also known as Designated Contract Markets (DCMs). This is one of the types of exchanges regulated by the CFTC.

The “Spot Crypto Listing Initiative” is the CFTC’s first response to the report released last week by the Trump administration’s Digital Asset Markets Working Group. The report set out clear expectations for U.S. regulators, such as requiring the CFTC to provide clear guidance on registration, custody, and other aspects to establish a regulatory framework for digital asset trading.

This initiative is also seen as part of the U.S. Securities and Exchange Commission’s (SEC) “Project Crypto.” SEC Chair Paul Atkins issued a press release last week stating that the project is a commission-wide initiative aimed at modernizing securities regulations to enable financial markets to migrate to blockchain-based operations.