Highlights: CFTC plans to introduce spot crypto trading soon with stronger investor protections. Acting Chair Pham engages major exchanges, including CME, ICE, and Coinbase, for launch. Pham advances crypto initiatives despite the government shutdown and limited leadership at CFTC. The Commodity Futures Trading Commission (CFTC) is reportedly in active discussions with regulated exchanges to introduce spot crypto trading as early as next month. Acting Chair Caroline Pham confirmed the development by replying “True” to a CoinDesk report on X (formerly Twitter). The plan marks one of the clearest moves by U.S. regulators to expand crypto oversight using powers already granted under the Commodity Exchange Act, instead of waiting for new laws from Congress. It comes at a time when the federal government shutdown has paused several other crypto policy initiatives across agencies. True https://t.co/4VjzyEuklE — Caroline D. Pham (@CarolineDPham) November 9, 2025 Pham Engages with Top Regulated Crypto and Financial Exchanges Sources said Caroline Pham has been in ongoing talks with designated contract market (DCM) exchanges under CFTC regulation. These include major players like ICE Futures, CME, and Cboe Futures Exchange, as well as crypto-focused platforms such as Coinbase Derivatives, Polymarket, and Kalshi.  The exchanges are reportedly preparing to launch leveraged spot trading products, offering margin and financing options for cryptocurrencies. “As we continue to work with Congress on bringing legislative clarity to these markets, we are also using existing authorities to swiftly implement recommendations in the President’s Working Group on Digital Asset Markets report,” Pham told CoinDesk in a statement. Leveraged Crypto Trading involves borrowing money to increase exposure to Bitcoin, Ether, and other cryptocurrencies. However, this is both risky and profitable. Such traders are only required to deposit funds for the value of the trade, with the rest coming from the brokerages. For example, with 5x leverage, a trader can control $5,000 in Bitcoin using just $1,000 of their own money. Such trading has been common on foreign crypto exchanges. But bringing it to CFTC-regulated platforms would add better oversight, risk control, and investor safety for U.S. traders. The recent development follows a September joint guidance from the SEC and CFTC. They made it clear that registered exchanges can legally facilitate trading of certain spot commodities, including crypto assets. Pham Advances Crypto Plans The CFTC usually has five commissioners from different political parties, but Pham is the only one in office right now. This gives her more control over the agency. She is moving ahead even though the government shutdown has delayed confirming Trump’s nominee, Mike Selig. Selig is now chief counsel for the SEC’s Crypto Task Force. He was picked after Trump’s first choice, Brian Quintenz, was withdrawn because crypto leaders like a16z and the Winklevoss twins opposed him. Reports also note that Pham is set to join MoonPay as chief legal and administrative officer following her time at the CFTC. However, her confirmation post did not refer to the crypto payments firm. When contacted, neither Pham nor the agency provided further comment on the upcoming trading framework. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Highlights: CFTC plans to introduce spot crypto trading soon with stronger investor protections. Acting Chair Pham engages major exchanges, including CME, ICE, and Coinbase, for launch. Pham advances crypto initiatives despite the government shutdown and limited leadership at CFTC. The Commodity Futures Trading Commission (CFTC) is reportedly in active discussions with regulated exchanges to introduce spot crypto trading as early as next month. Acting Chair Caroline Pham confirmed the development by replying “True” to a CoinDesk report on X (formerly Twitter). The plan marks one of the clearest moves by U.S. regulators to expand crypto oversight using powers already granted under the Commodity Exchange Act, instead of waiting for new laws from Congress. It comes at a time when the federal government shutdown has paused several other crypto policy initiatives across agencies. True https://t.co/4VjzyEuklE — Caroline D. Pham (@CarolineDPham) November 9, 2025 Pham Engages with Top Regulated Crypto and Financial Exchanges Sources said Caroline Pham has been in ongoing talks with designated contract market (DCM) exchanges under CFTC regulation. These include major players like ICE Futures, CME, and Cboe Futures Exchange, as well as crypto-focused platforms such as Coinbase Derivatives, Polymarket, and Kalshi.  The exchanges are reportedly preparing to launch leveraged spot trading products, offering margin and financing options for cryptocurrencies. “As we continue to work with Congress on bringing legislative clarity to these markets, we are also using existing authorities to swiftly implement recommendations in the President’s Working Group on Digital Asset Markets report,” Pham told CoinDesk in a statement. Leveraged Crypto Trading involves borrowing money to increase exposure to Bitcoin, Ether, and other cryptocurrencies. However, this is both risky and profitable. Such traders are only required to deposit funds for the value of the trade, with the rest coming from the brokerages. For example, with 5x leverage, a trader can control $5,000 in Bitcoin using just $1,000 of their own money. Such trading has been common on foreign crypto exchanges. But bringing it to CFTC-regulated platforms would add better oversight, risk control, and investor safety for U.S. traders. The recent development follows a September joint guidance from the SEC and CFTC. They made it clear that registered exchanges can legally facilitate trading of certain spot commodities, including crypto assets. Pham Advances Crypto Plans The CFTC usually has five commissioners from different political parties, but Pham is the only one in office right now. This gives her more control over the agency. She is moving ahead even though the government shutdown has delayed confirming Trump’s nominee, Mike Selig. Selig is now chief counsel for the SEC’s Crypto Task Force. He was picked after Trump’s first choice, Brian Quintenz, was withdrawn because crypto leaders like a16z and the Winklevoss twins opposed him. Reports also note that Pham is set to join MoonPay as chief legal and administrative officer following her time at the CFTC. However, her confirmation post did not refer to the crypto payments firm. When contacted, neither Pham nor the agency provided further comment on the upcoming trading framework. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

CFTC Set to Approve Leveraged Spot Crypto Trading in December

Highlights:

  • CFTC plans to introduce spot crypto trading soon with stronger investor protections.
  • Acting Chair Pham engages major exchanges, including CME, ICE, and Coinbase, for launch.
  • Pham advances crypto initiatives despite the government shutdown and limited leadership at CFTC.

The Commodity Futures Trading Commission (CFTC) is reportedly in active discussions with regulated exchanges to introduce spot crypto trading as early as next month. Acting Chair Caroline Pham confirmed the development by replying “True” to a CoinDesk report on X (formerly Twitter). The plan marks one of the clearest moves by U.S. regulators to expand crypto oversight using powers already granted under the Commodity Exchange Act, instead of waiting for new laws from Congress. It comes at a time when the federal government shutdown has paused several other crypto policy initiatives across agencies.

Pham Engages with Top Regulated Crypto and Financial Exchanges

Sources said Caroline Pham has been in ongoing talks with designated contract market (DCM) exchanges under CFTC regulation. These include major players like ICE Futures, CME, and Cboe Futures Exchange, as well as crypto-focused platforms such as Coinbase Derivatives, Polymarket, and Kalshi. 

The exchanges are reportedly preparing to launch leveraged spot trading products, offering margin and financing options for cryptocurrencies. “As we continue to work with Congress on bringing legislative clarity to these markets, we are also using existing authorities to swiftly implement recommendations in the President’s Working Group on Digital Asset Markets report,” Pham told CoinDesk in a statement.

Leveraged Crypto Trading involves borrowing money to increase exposure to Bitcoin, Ether, and other cryptocurrencies. However, this is both risky and profitable. Such traders are only required to deposit funds for the value of the trade, with the rest coming from the brokerages.

For example, with 5x leverage, a trader can control $5,000 in Bitcoin using just $1,000 of their own money. Such trading has been common on foreign crypto exchanges. But bringing it to CFTC-regulated platforms would add better oversight, risk control, and investor safety for U.S. traders.

The recent development follows a September joint guidance from the SEC and CFTC. They made it clear that registered exchanges can legally facilitate trading of certain spot commodities, including crypto assets.

Pham Advances Crypto Plans

The CFTC usually has five commissioners from different political parties, but Pham is the only one in office right now. This gives her more control over the agency. She is moving ahead even though the government shutdown has delayed confirming Trump’s nominee, Mike Selig. Selig is now chief counsel for the SEC’s Crypto Task Force. He was picked after Trump’s first choice, Brian Quintenz, was withdrawn because crypto leaders like a16z and the Winklevoss twins opposed him.

Reports also note that Pham is set to join MoonPay as chief legal and administrative officer following her time at the CFTC. However, her confirmation post did not refer to the crypto payments firm. When contacted, neither Pham nor the agency provided further comment on the upcoming trading framework.

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