CFTC Reaffirms Support for Crypto Trading Access
The Commodity Futures Trading Commission (CFTC) has reiterated its support for facilitating crypto asset trading in the United States by reaffirming the foreign board of trade (FBOT) registration framework. The advisory highlights that offshore exchanges operating in jurisdictions with credible regulatory systems can legally provide U.S. traders with direct market access, provided they register as FBOTs.
The CFTC clarified that the framework applies universally across asset classes, covering both traditional markets and digital asset markets. This update comes amid growing confusion about whether non-U.S. exchanges should register as designated contract markets (DCMs) or FBOTs, especially after recent enforcement actions that created uncertainty in the derivatives space.
By reinforcing its stance, the CFTC is aiming to promote clarity, compliance, and broader access to global markets. Importantly, this announcement follows the Commission’s March 2025 declaration that digital asset derivatives will receive the same regulatory treatment as traditional financial products.
Acting Chairman Caroline D. Pham emphasized that the advisory provides a pathway for American traders and companies, many of whom had been forced offshore due to restrictive enforcement policies, to return to U.S. markets under clear regulatory guardrails. She added that the framework ensures both safety and access, while opening up U.S. markets to global participants.
With this reaffirmation, the CFTC is signaling a more receptive environment for crypto assets within its existing regulatory architecture, marking a shift from years of uncertainty. The move also positions the U.S. as a more competitive player in global derivatives and crypto trading markets, offering a balanced approach between innovation and investor protection.
