In a rather shocking turn of events-yes, you read that right-the US Commodity Futures Trading Commission (CFTC) has decided to bless the crypto world with the dubious honor of allowing spot cryptocurrency products to trade on federally regulated futures exchanges. What a time to be alive! 🌍💸
In an official announcement made Thursday (we’re still shaking our heads over this), Acting CFTC Chair Caroline Pham, undoubtedly with a straight face, declared that this glorious decision was made in direct response to a string of policy directives from the ever-controversial US President Donald Trump. You know, because why not? Who better than the man who’s already mastered Twitter to lead the charge into crypto trading? 🤷♀️
Pham also hinted that this bold move was taken following recommendations from the President’s Working Group on Digital Asset Markets (try saying that five times fast), some back-and-forth with the US Securities and Exchange Commission, and consultations from the CFTC’s gloriously named “Crypto Sprint” initiative. 🏃♂️💨 Because nothing screams “well thought-out decision” quite like a ‘sprint,’ right? 😏
In a statement that is sure to leave you with a warm, fuzzy feeling, Pham exclaimed, “For the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve.” Because we all know that a century-old tradition of market integrity can totally be applied to the volatile world of cryptocurrencies. Who needs caution anyway? 🤷♂️
Pham, ever the temporary leader of the CFTC after Trump’s dramatic entrance into office, is expected to be replaced once the US Senate gets around to confirming someone who probably knows more about crypto than her. The nomination of Michael Selig, an SEC official (because, of course, the SEC is also deeply involved in this circus), is set to head to the Senate floor for a vote. Hold on tight, folks-it’s going to be a wild ride. 🚀
As this saga unfolds, we’ll keep you posted. Stay tuned. There’s more madness where that came from.
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2025-12-04 20:24