CFTC explores allowing futures exchanges to offer spot Bitcoin, crypto trading

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The Commodity Futures Trading Commission (CFTC) is launching a new initiative to allow spot trading of Bitcoin and crypto asset contracts on registered futures exchanges, also known as Designated Contract Markets (DCMs), Acting Chair Caroline Pham announced Monday.

The move is the first step in implementing recommendations from the President’s Working Group on Digital Asset Markets.

It is part of the CFTC’s “Crypto Sprint” initiative aimed at enhancing regulatory clarity, expanding oversight of crypto commodities, and deepening collaboration with the SEC to support responsible innovation.

“Under President Trump’s strong leadership and vision, the CFTC is full speed ahead on enabling immediate trading of digital assets at the Federal level in coordination with the SEC’s Project Crypto,” said Pham in a statement.

Currently, spot crypto trading and futures trading fall under separate regulatory frameworks. The SEC largely oversees spot trading, while the CFTC regulates futures derivatives.

By enabling futures exchanges to list spot crypto contracts under the Commodity Exchange Act on DCMs, the CFTC aims to unify oversight and create a more cohesive regulatory structure.

“There is a clear and simple solution the CFTC can implement now. The Commodity Exchange Act currently requires that retail trading of commodities with leverage, margin, or financing must be conducted on a DCM,” she added.

The CFTC is inviting stakeholder feedback on the listing of spot crypto asset contracts on designated contract markets. It will also evaluate potential implications under securities laws, particularly regarding the SEC’s framework for trading non-security assets that may form part of an investment contract.

Public comments are open through August 18 and can be submitted via the CFTC website. All submissions will be published on the agency’s official website.

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