The U.S. Commodities Futures Trading Commission issued new guidance on Thursday for foreign firms, saying they now have a pathway to operating legally in the U.S.
The regulator said in a blog post that it had put out new guidance regarding its foreign board of trade registration framework, which would apply equally to both traditional and crypto markets.
In a statement, Acting CFTC Chair Caroline D. Pham described the move as a way to dispel a lack of regulatory clarity marked by “regulation through enforcement” in recent years—a strategy employed by former SEC Chair Gary Gensler, under President Joe Biden, that had been widely criticized across the crypto industry.
“American companies that were forced to set up shop in foreign jurisdictions to facilitate crypto asset trading now have a path back to U.S. markets,” she said, calling the move “another example of how the CFTC will continue to deliver wins for President Trump.”
Crypto exchanges like Binance have been precluded from U.S. markets in recent years because they are not registered with U.S. regulators. Under the terms of a $4.3 billion settlement in 2023, the exchange agreed to “completely exit” U.S. markets.
Editor’s note: This story is breaking and will be updated with additional details.
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