US CFTC approves regulated platform to offer spot digital asset products, Bitnomial to launch leveraged spot market

Foresight News reported that Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), announced today that "listed spot cryptocurrency products will begin trading for the first time on a federally regulated CFTC-registered futures exchange in the United States." This move is one of the first items on the agenda of the "Crypto Sprint" initiative, which was launched to implement the government's pro-cryptocurrency policy objectives. Other aspects of the plan include: enabling tokenized collateral (including stablecoins) in derivatives markets, and formulating rules to technically amend CFTC regulations regarding collateral, margin, clearing, settlement, reporting, and recordkeeping, in order to support the use of blockchain technology and market infrastructure (including tokenization) in our markets.

According to CoinDesk, Bitnomial will launch the first CFTC-regulated spot cryptocurrency market. Bitnomial is one of several Designated Contract Markets (DCMs) regulated by the U.S. Commodity Futures Trading Commission (CFTC), with others including a certain exchange, Kalshi, and Polymarket.