BlockBeats reports that on August 5, the Commodity Futures Trading Commission (CFTC) stated that it is considering allowing spot cryptocurrency trading on registered futures exchanges and is seeking stakeholder input to implement the cryptocurrency development goals proposed by President Trump.
CFTC acting chair Caroline Pham stated on Monday that the agency seeks the assistance of stakeholders to provide regulatory clarity on how to list spot crypto assets on futures exchanges registered with the CFTC (also known as designated contract markets, DCM). This is one of the types of exchanges regulated by the CFTC. The 'Spot Crypto Trading Initiative' is the CFTC's first response to a report released last week by the Trump administration's digital asset market working group. The report outlined clear expectations for U.S. regulators, such as requiring the CFTC to provide clear guidance in areas like registration and custodianship to create a regulatory framework for digital asset trading.
The initiative is also seen as part of the Securities and Exchange Commission (SEC) 'Project Crypto'. SEC Chairman Paul Atkins released a press statement last week stating that the project is a committee-wide initiative aimed at modernizing securities rules to enable financial markets to migrate to operate on blockchain.