US CFTC: Spot cryptocurrencies can now be traded on CFTC-registered trading platforms

On December 4, Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), announced that listed spot cryptocurrency products will be traded for the first time on a federally regulated market operated by a CFTC-registered futures exchange. Today’s announcement follows recommendations from the President’s Working Group on Financial Markets for digital assets, incorporates insights from stakeholders through the CFTC’s “crypto sprint” initiative, and reflects collaboration with the U.S. Securities and Exchange Commission. The “crypto sprint” initiative has also launched a public consultation on all other CFTC-related recommendations in the President’s digital asset market report. Additional elements of the initiative include enabling tokenized collateral (including stablecoins) in derivatives markets and rulemaking to make technical amendments to CFTC regulations on collateral, margin, clearing, settlement, reporting, and recordkeeping, in order to accommodate the use of blockchain technology and market infrastructure, including tokenization technology, in our markets.