{"id":47370,"date":"2025-08-05T12:30:10","date_gmt":"2025-08-05T09:30:10","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=47370"},"modified":"2025-08-05T12:10:01","modified_gmt":"2025-08-05T09:10:01","slug":"us-spot-crypto-listing-cftc-plan","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/us-spot-crypto-listing-cftc-plan\/","title":{"rendered":"U.S. May Allow Spot Crypto Listings on Regulated Exchanges"},"content":{"rendered":"<p><span data-contrast=\"auto\">The U.S. Commodity Futures Trading Commission <strong>(CFTC)<\/strong> has presented its plan for listing <strong>spot crypto<\/strong>\u00a0on registered futures exchanges for public comment. The agency is collecting feedback until August 18 to finalize its roadmap.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Acting Chair <strong>Caroline Pham<\/strong> stated that the current legal framework could be applied without the need for new regulations. She emphasized that spot crypto assets could be traded through designated contract markets (DCMs). This approach directly conflicts with the <strong>SEC\u2019s<\/strong> securities interpretations.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">CFTC-registered DCM platforms like CME Group and ICE Futures US operate under strict supervision and customer protection measures. The plan would allow these platforms to list physically settled crypto contracts.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, Pham opposes complex regulations similar to Europe\u2019s <strong>MiCA<\/strong>. She advocates for streamlined and effective solutions to maintain the U.S.\u2019s market leadership.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/us-spot-crypto-listing-cftc-plan\/#SEC-CFTC_Conflict\" title=\"SEC-CFTC Conflict\u00a0\">SEC-CFTC Conflict\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/us-spot-crypto-listing-cftc-plan\/#CFTC_Moves_to_Accelerate_Crypto_Regulation_in_the_US\" title=\"CFTC Moves to Accelerate Crypto Regulation in the U.S.\u00a0\">CFTC Moves to Accelerate Crypto Regulation in the U.S.\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"SEC-CFTC_Conflict\"><\/span><span data-contrast=\"auto\">SEC-CFTC Conflict<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">Some legal experts warn that the plan carries significant risks. Andrew Rossow, CEO of AR Media Consulting, pointed out that crypto assets cannot be rigidly categorized. According to Rossow, assets may acquire security characteristics over time, threatening regulatory stability.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The CFTC\u2019s authority is limited to leveraged or collateralized transactions conducted only through DCM platforms. Meanwhile, the <strong><a href=\"https:\/\/coinengineer.net\/blog\/sec-crypto-roundtables-2025-project-crypto-initiative\/\">SEC<\/a> still classifies<\/strong> many cryptocurrencies <strong>as securities<\/strong> under the Howey Test.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Rossow emphasized that this dual framework doesn\u2019t align with the dynamic nature of crypto assets. Even if investors comply with CFTC rules, they may face retroactive SEC enforcement actions.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Moreover, this situation could trigger various legal consequences such as unregistered securities trading or brokerage violations. Consequently, even if the plan is implemented, a lack of coordination between agencies increases risks.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CFTC_Moves_to_Accelerate_Crypto_Regulation_in_the_US\"><\/span><span data-contrast=\"auto\">CFTC Moves to Accelerate Crypto Regulation in the U.S.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">Caroline Pham aims to implement spot crypto regulations within 12 to 18 months, positioning the <strong>U.S.<\/strong> as a global <strong>crypto hub<\/strong>.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, without resolving uncertainties around securities-commodity distinctions, such steps could lead to further legal confusion. Also, listings made without clear investor protections may undermine trust.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) has presented its plan for listing spot crypto\u00a0on registered futures exchanges for public comment. The agency is collecting feedback until August 18 to finalize its roadmap.\u00a0 Acting Chair Caroline Pham stated that the current legal framework could be applied without the need for new regulations. She emphasized that<\/p>\n","protected":false},"author":36,"featured_media":33445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,2],"tags":[21877,14632,7137,1960,20501,717,12499,21878,21876,14346],"class_list":["post-47370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-news","tag-cftc-regulation","tag-crypto-compliance","tag-crypto-exchanges","tag-crypto-listing","tag-crypto-oversight","tag-crypto-trading","tag-futures-markets","tag-sec-conflict","tag-spot-crypto","tag-us-crypto-law"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. May Allow Spot Crypto Listings on Regulated Exchanges - Coin Engineer<\/title>\n<meta name=\"description\" content=\"CFTC plans to list spot cryptocurrencies on regulated exchanges, challenging SEC rules. 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