CFTC Acting Chairman: Considering Bringing Compliant Overseas Crypto Trading Platforms Under U.S. Cross-Border Regulation

BlockBeats News, on September 9, FOX Business reporter Eleanor Terrett stated that Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), said in a recent speech that the agency is studying whether it can recognize overseas cryptocurrency trading platforms that follow sound, crypto-specific regulations (such as the EU's MiCA framework) under the U.S. cross-border regulatory framework.

This statement comes shortly after the CFTC recently reaffirmed its long-standing Foreign Board of Trade (FBOTs) framework. This framework allows certain non-U.S. cryptocurrency trading platforms already regulated by foreign regulatory authorities to provide direct trading access to U.S. traders by registering with the CFTC as FBOTs, rather than as Designated Contract Markets (DCM).