The US Commodity Futures Trading Commission (CFTC) has granted approval for spot cryptocurrency products to be traded on federally regulated futures exchanges.
In a notice issued on Thursday, Acting CFTC Chair Caroline Pham stated that this significant move was made in response to policy directives from US President Donald Trump. She further elaborated that the approval followed recommendations from the President’s Working Group on Digital Asset Markets, included engagement with the US Securities and Exchange Commission (SEC), and incorporated consultations from the CFTC’s “Crypto Sprint” initiative.
Pham emphasized the importance of this development, saying, "For the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve."
Caroline Pham, who assumed the role of acting CFTC chair in January following President Trump's inauguration, is anticipated to step down once the US Senate confirms a successor. The nomination of Michael Selig, an SEC official put forward by President Trump to lead the CFTC, is expected to proceed to the Senate floor for a vote shortly after its departure from committee.