U.S. approves first-ever spot crypto trading on regulated exchanges

The U.S. is taking a defining step in the crypto market structure. For the first time, spot digital-asset products will trade on exchanges directly supervised by a federal regulator, a shift that could rewire how Americans access crypto markets.

The announcement also lands during a politically charged push to repatriate crypto activity, following years in which most spot trading migrated to offshore venues with limited investor safeguards.

CFTC opens the door to federally regulated spot crypto markets

The Commodity Futures Trading Commission (CFTC) confirmed in a Dec. 4 notice (Release No. 9145-25) that listed spot cryptocurrency products can now trade on U.S. futures exchanges, a first in federal oversight of digital assets.

“Now, 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,” Acting Chairman Caroline D. Pham said. 

She added that failures on offshore exchanges show “how essential it is for Americans to have more choice and access to safe, regulated U.S. markets.” 

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Part of a broader ‘crypto sprint’ to integrate tokenization into U.S. markets

The initiative is a core pillar of the CFTC’s “crypto sprint,” a program aligned with recommendations from the President’s Working Group on Digital Asset Markets. 

The agency is also evaluating tokenized collateral, including stablecoins, for derivatives markets and drafting blockchain-aligned amendments for clearing, settlement, reporting and recordkeeping.

Related: Explained: What is a stablecoin?

Congress continues to debate legislation that would formally grant the CFTC comprehensive spot-market oversight. 

Until then, Pham said the agency is “finally using our decades-long existing authority to work smarter and faster to protect Americans.”

Bitnomial to launch first CFTC-listed spot crypto products

Chicago-based Bitnomial will be the first designated contract market (DCM) to list the new products, with trading set for Dec. 8.

“Leveraged spot crypto trading is now available under the same regulatory framework as U.S. perpetuals, futures, and options,” CEO Luke Hoersten said. 

The rollout follows months of agency engagement, including meetings with Pham during the federal government shutdown.

Related: CFTC Acting Chair Pham Appoints Harry Jung as Chief of Staff