The U.S. Commodity Futures Trading Commission (CFTC) announced that it will now permit the trading of spot crypto asset contracts on futures exchanges registered under its authority.
The CFTC, which regulates U.S. derivatives markets, will enable the immediate trading of digital assets at the federal level. This initiative is being done in coordination with the Securities and Exchange Commission’s (SEC) “Project Crypto,” according to CFTC acting chairman Caroline Pham. The CFTC has invited stakeholders to comment on how to list these spot crypto asset contracts within a designated market.
“This is a significant development, not just for the U.S. but for global markets,” said Saad Ahmed, head of Asia Pacific at Gemini. “It brings crypto one step closer to the structure and standards of traditional markets, an important shift that could drive broader participation from institutions and more sophisticated market participants globally.”
GENIUS Act and CLARITY Act provide more regulatory certainty
The digital assets industry has seen substantial progress this year under U.S. President Donald Trump, with bills like the GENIUS Act and CLARITY Act providing more regulatory certainty. Shortly after taking office in January, Trump ordered the creation of a crypto working group tasked with proposing new regulations, fulfilling a key campaign promise to overhaul U.S. crypto policy.
Last week, SEC Chair Paul Atkins outlined several pro-crypto initiatives, including directing staff to develop guidelines to determine when a crypto token qualifies as a security and proposing various disclosures and exemptions. The coordinated approach from the two regulators marks a significant victory for the crypto industry, which has long advocated for tailored regulations.
Trump’s embrace of digital assets
“The hope continues to be that a broader range of assets beyond bitcoin and ethereum entrench themselves on U.S. venues over the next 24 months, and moves like this ultimately help along that process,” said Joseph Edwards, head of research at Enigma Securities.
Trump’s embrace of digital assets is in stark contrast to the approach of former President Joe Biden’s regulators, who cracked down on the industry in an effort to protect Americans from fraud and money laundering. The Biden administration had sued exchanges like Coinbase and Binance, along with dozens of others, alleging they were flouting U.S. laws. The Trump administration’s SEC has since dropped those cases.
On Tuesday, Bitcoin, the world’s largest cryptocurrency, traded 0.68% lower at $114,077.05, though it has risen more than 20% for the year so far. Ether fell 2% to $3,621.70.
