CFTC Clarifies FBOT Registration Framework to Support Compliant Entry of Non-U.S. Exchanges into the U.S. Market

MetaEraAug 28, 2025
On August 29 (UTC+8), the Market Oversight Division of the U.S. Commodity Futures Trading Commission (CFTC) issued an announcement clarifying the "Foreign Board of Trade (FBOT)" registration framework, allowing non-U.S. exchanges established and operating overseas to legally provide direct market access to U.S. investors. This framework applies to all markets and asset classes, including traditional and digital assets. Acting Chairman Caroline D. Pham stated that this move provides a return path for crypto trading activities that have flowed out due to the "enforcement-led regulation" during the Biden era, and reiterated the FBOT registration mechanism that has existed since the 1990s. She emphasized that U.S. companies can now safely and efficiently return to the U.S. market under CFTC supervision, which is also an important progress of the Trump administration's "crypto sprint". This announcement aims to promote regulatory clarity and ensure market access. [CFTC]
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CFTC Clarifies FBOT Registration Framework to Support Compliant Entry of Non-U.S. Exchanges into the U.S. Market

MetaEraAug 28, 2025
On August 29 (UTC+8), the Market Oversight Division of the U.S. Commodity Futures Trading Commission (CFTC) issued an announcement clarifying the "Foreign Board of Trade (FBOT)" registration framework, allowing non-U.S. exchanges established and operating overseas to legally provide direct market access to U.S. investors. This framework applies to all markets and asset classes, including traditional and digital assets. Acting Chairman Caroline D. Pham stated that this move provides a return path for crypto trading activities that have flowed out due to the "enforcement-led regulation" during the Biden era, and reiterated the FBOT registration mechanism that has existed since the 1990s. She emphasized that U.S. companies can now safely and efficiently return to the U.S. market under CFTC supervision, which is also an important progress of the Trump administration's "crypto sprint". This announcement aims to promote regulatory clarity and ensure market access. [CFTC]
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