CFTC removes the path to allow US citizens to access crypto exchanges in the distance
The US Commodity Futures Trading Commission (CFTC), a U.S. financial regulator, announced on Thursday that crypto exchanges now have a path to legal to serve US -based clients by registering under the foreign board of trade (FBOT).
US -based clients have the right to trade on registered platforms offshore since the 1990s under the FBOT registry, and the framework has been working for all asset classes, CFTC director Caroline Pham is acting Says In a statement. Pham said:
“From now on, the CFTC accepts Americans who want to trade well and safely under CFTC regulations, and opens the markets with us to the rest of the world. This is another example of how the CFTC will continue to deliver wins for President Trump as part of our Crypto Sprint.”
Allows offshore exchanges to serve us US residents can increase liquidity in crypto markets and eliminate crypto -preserved cyptos trapped within the regions.
Binance, the world’s largest exchange by trading volume, is currently not accessible to US residents. Instead, it operates in the country by a separate creature, Binance.us, which is not available in all states. This keeps us residents in a wall garden of crypto companies that deserve business in the United States.
Related: CFTC aims to allow Crypto trading spot to registered exchanges
CFTC follows the Trump administration’s crypto sprint
The Cftc has been overhaule its crypto policies As part of “Crypto Sprint,” an initiative to pass the comprehensive crypto regulation in the US.
US President Donald Trump has repeatedly said he wants to return crypto companies to the country to promote leadership in digital ownership.
Lack of clear regulations led to a release of crypto companies from the US between 2021 and 2024, and led to most of the Crypto trade volume occurring with the offshore exchanges.
https://www.youtube.com/watch?v=csmfzihja0i
Edwin Mata, a lawyer and CEO of tokenization platform Brickken, told Cointelegraph that unclear regulations have spread US policy policy.
The lawyer told Cointelegraph that clear road policies Reduce the legal burden In crypto companies, which allow them to do business in the US without fear of legal payment and regulation through implementation.
The Cftc is receiving feedback to the public For its crypto policies in craft regulations to protect the financial market participants without creating an inappropriate burden that drives innovative coastal projects.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
