Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Key Notes
- CFTC's approval ends regulation by enforcement strategy, providing the crypto industry with clear federal trading frameworks.
- Bitnomial's self-certification filing became the first approved application under new rules after the mandatory 10-day review period.
- Traditional finance firms like Charles Schwab may now enter spot crypto markets through federally regulated channels.
The US Commodity Futures Trading Commission (CFTC) has approved the launch of listed spot cryptocurrency products for trading on US federally regulated markets on CFTC registered futures exchanges.
Under the new regulatory paradigm, companies holding a designated contract markets (DCM) license or those designated as a derivatives clearing organization (DCO) can legally offer federally-regulated spot cryptocurrency trading.
According to a Dec. 4 press release, this launch serves to provide regulatory clarity for the crypto industry. Acting CFTC chairman Pham said, in a statement, that the previous leadership at the CFTC “chose regulation by enforcement rather than making clear rules of the road, resulting in huge fines that targeted the crypto industry but did not protect the retail public by giving them a safe place to trade.”
CFTC Makes Good on Promise of a “Crypto Sprint”
Back on Aug. 1, 2025, Pham announced the launch of the CFTC’s “Crypto Sprint” program, an initiative designed to fast track the recommendations from president Donald Trump’s Working Group on Digital Asset Markets report.
Just four months later, the first application for CFTC-regulated spot cryptocurrency trading from a DCM was ostensibly approved.
As Coinspeaker reported on Dec. 1, Chicago-based cryptocurrency exchange Bitnomial filed a self-certification form with the CFTC on Nov. 13. Per CFTC regulation 17 CFR 40.6, paragraph b-1, the “self certification” filing is considered approved after 10 days unless the CFTC notifies the filer of a specific discrepancy.
📰Bitnomial launches the first CFTC-regulated spot crypto exchange in the U.S.
Leveraged spot, perpetuals, futures, options are all on one, federally regulated platform.https://t.co/u1XBrTnQzj pic.twitter.com/VqfRBQaDrE
— Bitnomial (@Bitnomial) December 4, 2025
Other firms that stand to benefit from the launch of CFTC-regulated spot crypto trading including the full slate of DCM licensed US operators such as Cboe, CME, LedgerX, and Crypto.com. It’s also possible that traditional finance firms who’ve so far abstained from spot crypto trading through state-regulated markets could find the allure of federally-regulated markets more enticing.
Heavyweight investment banking firm Charles Schwab, for example, signaled its intent to enter the spot crypto trading arena during an earnings call back in July. The new CFTC regulations could allow it and similarly positioned TradFi firms to challenge crypto-first companies for dominance in the new federal spot crypto trading market.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
