US Commodity Futures Trading Commission (CFTC), an American financial regulator, announced on Thursday that cryptographic exchanges at sea now have a path to legal customer service based in the USA, registering the Foreign Trade Council (CBOT).
Customers based in the US had the right to trade registered offshore platforms since the 1990s in the FBOT register, and the framework operates for all asset classes, acting CFTC Caroline Pham director he said in a statement. Pham said:
“From now on, CFTC welcomes Americans who want to trade effectively and safely in accordance with CFTC regulations, and opens US markets to the rest of the world. This is just another example of how CFTC will continue to win for President Trump as part of our cryptocurrency sprint.”
Allowing exchanges at sea to service US residents can potentially enhance liquidity on cryptographic markets and remove silos that maintained cryptographic imprisonment in regions.
Binance, the world’s largest stock exchange according to the commercial volume, is currently not available to US residents. Instead, it operates in the country through a separate binance.US entity, which is not available in all states. This means that the inhabitants of American companies in the cryptographic garden qualify for business in the United States.
Related: CFTC is trying to allow cryptographic trade on registered stock exchanges
CFTC occurs through the cryptographic sprint of the Trump administration
CFTC browses its cryptocurrency policy as part of “Crypto Sprint”, initiatives aimed at passing comprehensive cryptocurrency regulations in the USA.
US President Donald Trump repeated many times that he wanted to bring cryptographic companies to the country to establish leadership in the field of digital assets.
The lack of clear regulations caused the exodus of cryptocurrency companies from the USA in the years 2021–2024 and led to most of the volume of cryptographic trade on the stock exchanges at sea.
https://www.youtube.com/watch?v=csmfzihja0i
Edwin Mata, a lawyer and general director of the Brickken toxication platform, told CointeLgraph that ambiguous regulations broke the political landscape in the USA.
The lawyer told Cointelegraph that clear road rules would reduce legal burden for cryptographic companies, enabling them to conduct business in the US without fear of legal repression and regulations by enforcing law.
CFTC adopts public feedback for their cryptocurrency policies to develop provisions that will protect the financial market participants without causing excessive burden that drive creative projects at sea.
Warehouse: Referring Sec at cryptography leaves key questions unanswered
