CFTC has announced a new plan aimed at creating a unified framework for trading spot cryptocurrencies on registered markets. The initiative led by Acting Chair Caroline D. Pham includes expanding trading opportunities for assets like Bitcoin and Ethereum.
Creation of a Unified Regulatory Framework
The new initiative by CFTC envisions the establishment of a unified regulatory framework for trading digital assets, allowing spot contracts to be listed on CFTC-registered exchanges. This will enable exchanges like CME to offer not only derivatives but also spot trading of cryptocurrencies.
Market Feedback
CFTC is calling for stakeholders to provide feedback on how spot contracts should adapt to existing laws. Comments will be accepted until August 18, and all submissions will be published on the CFTC's official website.
Goals and Prospects of the Initiative
Caroline D. Pham indicated that this initiative aims for direct federal oversight of spot markets and to strengthen the U.S. position as a global leader in regulated digital asset trading. She expressed hope that if adopted, the proposal would make the market clearer and more modern for all participants.
The CFTC's initiative to create a unified structure for spot cryptocurrency trading is a significant step towards stricter regulation and clarity in the digital asset market.
