The U.S. CFTC has issued guidance on the Foreign Trading Platform Registration Framework, providing regulatory clarity for non-U.S. trading platforms seeking access to the U.S. market.
BlockBeats News, August 29, the Market Oversight Department of the U.S. Commodity Futures Trading Commission (CFTC) today issued guidance on a Foreign-Based Trading Platform (FBOT) registration framework, applicable to non-U.S. entities legally formed and operating outside the United States that wish to provide direct trading platform access to individuals located in the United States. The CFTC's FBOT registration framework applies to all markets, regardless of asset class, including traditional and digital asset markets.
Acting Chairman Caroline D. Pham stated: "Today's release of the FBOT guidance provides regulatory clarity for those who, due to the 'enforcement-based regulation' of the past few years, have left U.S. trading activities and are now seeking a legal return to the United States. By reaffirming the CFTC's longstanding practices to provide U.S. traders with diverse options to access the world's deepest, most liquid markets, as well as a wide range of products and asset classes, U.S. companies that were forced to establish operations overseas to conduct cryptocurrency trading now have the opportunity to re-enter the U.S. market."
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