CFTC Opens Doors for Americans to Trade on Non-US Crypto Exchanges
The CFTC’s Division of Market Oversight issued an advisory on Thursday stating that U.S.-based users can now trade on non-U.S. crypto exchanges such as Binance.
The advisory clarifies the Foreign Board of Trade (FBOT) registration framework, which allows non-US exchanges to provide direct market access to US customers.
“Today’s FBOT advisory provides the regulatory clarity needed to legally onshore trading activity that was driven out of the United States due to the unprecedented regulation by enforcement approach of the past several years,” said Acting Chairman Caroline Pham.
CFTC’s Pivot to Crypto
The advisory addresses confusion caused by recent enforcement actions that departed from decades of CFTC…
