- CFTC plans to integrate offshore trading onto U.S. platforms.
- Initiative led by Caroline D. Pham.
- Potential shift in regulatory approach.
The Commodity Futures Trading Commission’s new framework aims to allow U.S. users to trade on offshore crypto exchanges efficiently, led by Acting Chair Caroline D. Pham.
The initiative could redefine U.S. crypto trading regulations, encouraging innovation and potentially impacting major cryptocurrencies like Bitcoin and Ethereum.
The Commodity Futures Trading Commission (CFTC) announced plans to enable spot crypto trading on regulated U.S. exchanges. It aims to clarify the regulatory framework for offshore firms interacting with U.S. customers.
Caroline D. Pham, Acting Chair, spearheads the initiative, focusing on designated contract markets. The plan is to expand the regulatory framework, potentially involving Bitcoin and Ethereum.
The initiative potentially impacts U.S. market structures, enabling broader access to crypto trading. Industry reactions are anticipated during the public consultation phase.
The move addresses financial implications, including market accessibility and regulatory challenges for offshore firms. The CFTC’s initiative coordinates closely with the SEC.
The advisory seeks public and institutional feedback on the new framework. Spot crypto assets, especially BTC and ETH, are central to discussions.
Insights suggest a significant shift in the regulatory landscape. Historical trends indicate potential easing of compliance barriers, primarily affecting tokens like BTC and ETH seen on design contract markets.
“We are eager for feedback from all market participants to craft the most effective framework that supports innovation while ensuring robust consumer protection.” — Caroline D. Pham, Acting Chair, CFTC Source
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