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CFTC Acting Chairman: Considering Bringing Compliance-Focused Overseas Crypto Exchanges into U.S. Cross-Border Oversight
BlockBeats News, September 9th, FOX Business reporter Eleanor Terrett stated that Caroline D. Pham, Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), mentioned in a recent speech that the agency is exploring whether it can, under the U.S. cross-border regulatory framework, recognize overseas cryptocurrency exchanges that follow robust, crypto-specific rules (such as the EU's MiCA framework).
This statement comes shortly after the CFTC reiterated its long-standing Foreign Board of Trade (FBOT) framework. This framework allows certain non-U.S. cryptocurrency exchanges that are already regulated by foreign regulatory authorities to provide U.S. traders with direct trading access by registering with the CFTC as an FBOT rather than a Designated Contract Market (DCM).
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