In a recent move to expand opportunities for US-based cryptocurrency businesses, the Commodity Futures Trading Commission issued an advisory stating that foreign crypto companies registered with the agency as Foreign Boards of Trade can now directly interact with US customers. This development is part of the regulator's ongoing efforts to create a more favorable environment for the crypto industry in the US.
According to CFTC Acting Chairman Caroline Pham, American companies that had previously relocated to foreign jurisdictions to facilitate cryptocurrency trading can now return to the US market. The advisory serves as a reminder that since the 1990s, US citizens have been allowed to trade on non-US exchanges registered with the CFTC as Foreign Boards of Trade, and now, these companies are welcome to operate under CFTC regulations, thereby opening up US markets to global participation.