The U.S. Commodity Futures Trading Commission (CFTC) announced plans to launch an initiative allowing spot trading of crypto asset contracts on futures exchanges registered with the agency. This effort aims to further integrate digital assets into traditional finance and could accelerate broader crypto adoption.
Acting Chair Caroline Pham explained that the CFTC will work alongside the Securities and Exchange Commission’s Project Crypto to enable federal-level trading of digital assets. The agency has opened a public comment period to gather input on how to designate spot crypto asset contracts for trading on regulated markets.
Industry leaders welcomed the move as a significant step toward aligning crypto markets with conventional financial standards. Saad Ahmed, head of Asia Pacific at Gemini, said the initiative could expand institutional and sophisticated investor participation worldwide.
The development follows several crypto-friendly actions by the Trump administration, including bills like the GENIUS Act and CLARITY Act aimed at creating tailored regulatory frameworks. Shortly after taking office, President Trump established a crypto working group tasked with recommending new regulations, fulfilling his campaign pledge to overhaul U.S. crypto policy.
Last week, the administration released a landmark report urging the SEC to implement specific rules for digital assets and encouraged the CFTC to use its existing powers to “immediately enable” federal digital asset trading. Trump, who branded himself the “crypto president” during his campaign, received substantial financial support from the crypto industry and Republican congressional candidates.
SEC Chair Paul Atkins recently outlined multiple pro-crypto initiatives, including developing clearer guidelines on when a crypto token qualifies as a security and proposals for disclosure and exemption rules.
The dual approach by the CFTC and SEC marks a victory for the crypto sector, which has long sought tailored regulations. It may also benefit exchanges, which have dominated spot trading by operating in a regulatory gray area.
Joseph Edwards, head of research at Enigma Securities, expressed optimism that a wider range of digital assets beyond Bitcoin and Ethereum could establish themselves on U.S. trading platforms over the next two years, aided by initiatives like this.
However, the success of these initiatives hinges on resolving fundamental questions about whether digital assets should be regulated as commodities or securities—a longstanding issue for U.S. regulators.
Neither the CFTC nor the SEC has provided further comments yet.
This shift under the Trump administration sharply contrasts with the Biden administration’s regulatory crackdown, which has included lawsuits against major exchanges such as Coinbase and Binance for alleged violations of U.S. laws. The Trump-era SEC has reportedly dropped these cases.