The US Commodity Futures Trading Commission (CFTC) has authorized the first spot crypto trading on regulated exchanges, marking a major development in the domestic digital asset market.
The decision follows months of public consultations, industry engagement, and policy planning. It allows federally regulated exchanges to list spot crypto products, providing Americans with safer, transparent trading environments.
Acting Chairman Caroline Pham described the move as a key step in maintaining US leadership in cryptocurrency markets.
CFTC framework for regulated spot crypto
Pham said the approval enables spot crypto trading on CFTC-registered futures exchanges, emphasizing market integrity and investor protection. She highlighted that recent issues on offshore platforms showed the need for regulated domestic alternatives.
The move implements recommendations from the President’s Working Group on Digital Asset Markets, aligning with the administration’s agenda to expand US oversight of digital assets.
The CFTC’s “Crypto Sprint” played a central role in designing the framework.
Through consultations with industry stakeholders, regulators, and internal staff, the agency developed rules that balance innovation with protection.
Pham explained that these discussions were critical in creating a framework supporting both retail and institutional participants. She described the approval as a milestone that uses the CFTC’s long-standing authority to regulate digital assets effectively.
Bitnomial launches leveraged spot crypto
Chicago-based Bitnomial will be the first exchange to launch leveraged retail spot crypto trading under the new framework.Â
As a designated contract market (DCM), Bitnomial operates under the same regulatory standards applied to US futures and options.
CEO Luke Hoersten said the platform offers net settlement and portfolio margining across spot, futures, and options. He added that the system eliminates counterparty risks and improves capital efficiency, while all orders receive equal treatment with no preferential routing.
Bitnomial joins other regulated DCMs, including Coinbase, Kalshi, and Polymarket, in providing a fully compliant option for spot crypto trading.Â
The CFTC stressed that this approach ensures consumer protection while maintaining fair market competition.
Pham also noted that broader regulatory efforts are underway, including rulemaking for tokenized collateral and stablecoins, expected early next year.
These initiatives aim to integrate blockchain technology across existing regulations and strengthen US competitiveness in digital asset markets.
The approval underscores the CFTC’s commitment to shaping a secure, regulated environment for crypto trading as the industry continues to grow.