In what is seen as a milestone in the cryptocurrency market, Bitnomial has become the first regulatory-approved exchange to list spot crypto products.
US Commodity Futures Trading Commission (CFTC) Acting Chairwoman Caroline Pham called the move “the beginning of a new golden age for innovation in America.”
This development comes as the Trump administration and federal agencies have taken an increasingly welcoming approach towards the crypto industry.
“The CFTC has a long history of supporting responsible innovation in futures exchanges by balancing regulatory flexibility with fundamental principles that protect both institutional and individual investors,” Pham said in a statement today. “Thanks to President Trump’s leadership, a comprehensive government-wide plan has been developed to restore America to global leadership in digital asset markets, and the CFTC is playing a central role in this process.”
Since Trump's return to office, the CFTC has accelerated its cryptocurrency-focused efforts. Last year, the agency launched its “Crypto Sprint” program, aiming to reduce uncertainty surrounding cryptocurrency regulation. This move follows guidance jointly issued by the SEC and CFTC in September, clarifying that there are no regulations preventing registered exchanges from trading certain spot commodities, including cryptocurrencies.
Bitnomial's statement highlighted Pham's role in bringing the project to fruition. “We are bringing leveraged spot crypto trading back to the US under CFTC oversight,” said company CEO Luke Hoersten. “We are grateful to Chairman Pham for his business-friendly approach, which allows regulated institutions to exercise the full authority afforded by US law.”
Bitnomial's launch of regulated spot crypto trading is scheduled for the week of December 8th.
*This is not investment advice.
