Bitnomial Secures CFTC Approval for First U.S. Regulated Spot Crypto Platform

Chicago-based derivatives exchange Bitnomial is set to debut the first spot cryptocurrency trading platform regulated by the U.S. Commodity Futures Trading Commission (CFTC).

The exchange's self-certified rules became effective on Friday, allowing it to offer both leveraged and non-leveraged spot crypto products. This approval allows customers to engage in buying, selling, and financing digital assets on a federally regulated commodities exchange, a pioneering move in the U.S. market.

Caroline Pham, the acting head of the CFTC, mentioned in November discussions with regulated exchanges about the potential introduction of spot crypto products.

Bitnomial's approval comes as the CFTC intensifies efforts to bring retail crypto markets under federal oversight, with Pham asserting the agency's existing authority over spot crypto commodities.

Recently, the CFTC and the Securities and Exchange Commission clarified that current laws do not prevent registered exchanges from listing certain crypto commodity products, provided they coordinate with agency staff.

This approval may set a precedent for other exchanges holding designated contract market (DCM) status, such as Coinbase and prediction market platforms like Kalshi and Polymarket.