The US Commodity Futures Trading Commission has granted approval for spot cryptocurrency products to be traded on federally regulated futures exchanges.
In a notice released Thursday, Acting CFTC Chair Caroline Pham announced that this decision was made in response to policy directives from US President Donald Trump. She mentioned that the approval was based on recommendations from the President’s Working Group on Digital Asset Markets, collaboration with the US Securities and Exchange Commission, and input from the CFTC’s “Crypto Sprint” initiative.
“[F]or the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, providing the customer protections and market integrity that Americans deserve,” Pham stated.
Pham, who took on the role of acting CFTC chair in January when Trump began his term, is anticipated to resign once the US Senate confirms a successor. The nomination of Michael Selig, a SEC official whom Trump has selected to head the CFTC, is expected to be brought to the Senate floor for a vote shortly after moving out of committee.
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This story is still developing, and updates will be provided as more information becomes available.
