The U.S. Commodity Futures Trading Commission (CFTC) has announced new regulations that will make it easier for U.S. citizens to legally trade on Bitcoin and cryptocurrency exchanges based abroad.
The advisory, published by the CFTC’s Market Oversight Division, will allow non-U.S. companies to register with the Foreign Board of Trade (FBOT) and offer direct access to individuals physically located in the U.S.
The CFTC’s FBOT registration framework covers both traditional and digital asset markets. This step aims to re-introduce crypto trading activities, which have been relocated outside the US due to regulations in recent years.
CFTC Acting Chairwoman Caroline D. Pham made the following statement:
Pham also argued that this regulation is a contribution to the Trump administration’s rapid moves in the crypto space:
The CFTC has allowed US citizens to trade through CFTC-registered FBOTs since the 1990s. The new regulation aims to address recent uncertainty surrounding whether foreign exchanges must register as designed markets (DCMs) or FBOTs and provide greater clarity to the markets.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-a-historic-cryptocurrency-decision-is-reportedly-coming-soon-in-the-us-it-could-make-a-significant-effect/
