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CFTC considers recognizing overseas encryption trading platforms that comply with rules such as MiCA.
[Bitu] FOX Business reporter stated that Caroline D. Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), mentioned in a recent speech that the agency is exploring whether it can recognize overseas crypto assets trading platforms that adhere to sound, dedicated rules for encryption (such as the EU MiCA framework) under the cross-border regulatory framework in the United States.
This statement follows the CFTC's recent reaffirmation of its long-standing framework for Foreign Board of Trade (FBOTs). This framework allows certain non-U.S. crypto assets trading platforms that are already regulated by foreign regulatory agencies to provide direct trading access for U.S. traders by registering as FBOT with the CFTC, rather than as a designated contract market (DCM).