The U.S. CFTC is considering allowing spot trading of cryptoassets at registered futures trading exchanges | CoinDesk JAPAN

• The U.S. Commodity Futures Trading Commission (CFTC) is considering allowing trading of spot cryptoassets (virtual currencies) contracts on registered exchanges.
• This initiative is in response to the report from President Trump's working group on digital asset markets.
• Making CFTC the primary market regulator is an important goal for the cryptoassets industry and is the next priority for Congress in the market structure bill.

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it is considering allowing trading of spot cryptoasset contracts on registered exchanges and is seeking feedback from stakeholders to realize President Donald Trump's intentions regarding cryptoassets.

Acting Chair Caroline Pham stated in a statement on August 4 that the CFTC aims to provide regulatory clarity regarding the listing of spot cryptoasset contracts on CFTC-registered futures exchanges (Designated Contract Markets: DCM) in collaboration with stakeholders.

Mr. Pham stated, "Starting today, I urge all stakeholders to collaborate to provide regulatory clarity on how to list spot cryptoasset contracts on DCM using existing authority, as I have proposed since 2022. If we work together, we can make the United States a global hub for cryptoassets."

This initiative is the first step of the CFTC's response to the report from Mr. Trump's digital assets task force announced last week.

This report establishes the expectations for U.S. regulators, including enabling the trading of digital assets by providing clarity in the market through areas such as registration and custody by the CFTC.

This initiative is also part of the SEC's "Project Crypto". SEC Chairman Paul Atkins stated in a statement last week that Project Crypto is a comprehensive effort by the SEC aimed at modernizing securities rules to allow financial markets to transition to the foundational technology of cryptoassets, which is blockchain.

Mr. Fam stated, "Under President Trump's strong leadership and vision, the CFTC is working at full speed in collaboration with the SEC's Project Crypto to enable immediate trading of digital assets at the federal level."

Stakeholders are advised to submit proposals for the listing of spot cryptoasset contracts by August 18.

The Congress is also working to identify the roles that the CFTC and SEC should play in the oversight of cryptoassets. Market structure bills like the House's "Clarity" Act aim to make the CFTC the primary regulatory body for the spot market of cryptoassets.