
The U.S. Commodity Futures Trading Commission (CFTC) on Thursday announced that it is ushering in a new form of federally regulated crypto trading.
The Commission has directed the exchanges it regulates to offer Leveraged Spot Digital Asset products. The first such product is set to launch next week on Bitnomial, a fully regulated U.S. derivatives exchange registered with the CFTC as a Designated Contract Market (DCM).
Caroline Pham, Acting Chairman of CFTC, said the agency is “finally using our decades-long existing authority to work smarter and faster to protect Americans,” calling the new framework a “historic milestone” built on months of public engagement and coordination with other regulators.
The announcement also puts into action important suggestions from the President's Working Group on Digital Asset Markets and the CFTC's "Crypto Sprint," which was done with the help of the Securities and Exchange Commission (SEC).
The agency said the next steps in the sprint are to set up tokenized collateral, such as stablecoins, in futures markets and propose changes to rules regarding collateral, margin, clearing, settlement, reporting and recordkeeping to make it simple for blockchain-based infrastructure and tokenization to work in CFTC-regulated markets.
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