The change is part of the Commodity Futures Trading Commission’s “crypto sprint,” an initiative to overhaul regulations in response to proposals from the Trump administration.
The US Commodity Futures Trading Commission (CFTC), a US financial regulator, announced on Thursday that offshore crypto exchanges now have a pathway to legally serve US-based clients by registering under the Foreign Board of Trade (FBOT) framework.
US-based clients have had the right to trade on registered offshore platforms since the 1990s under the FBOT registry, and the framework works for all asset classes, acting CFTC Director Caroline Pham said in a statement. Pham said:
Allowing offshore exchanges to serve US residents can potentially increase liquidity in the crypto markets and remove the silos that have kept crypto trapped within regions.
