Bitnomial, a Chicago-based derivatives exchange, is preparing to roll out the first cryptocurrency spot trading platform overseen by the U.S. Commodity Futures Trading Commission (CFTC).
The Chicago-based derivatives exchange’s self-certified rules took effect Friday, authorizing it to list leveraged and unleveraged spot crypto products. The approval opens the door for customers to buy, sell and finance digital assets directly on a federally regulated commodities exchange – a first for the US market.
Caroline Pham, acting director of the CFTC, said in November that she was in talks with regulated exchanges about potentially launching spot crypto products.
Bitnomial’s approval comes as the CFTC accelerates its efforts to bring retail crypto markets under federal commodity oversight. Pham argued that the agency already has sufficient authority to supervise spot crypto products.
The CFTC and Securities and Exchange Commission recently revealed that nothing in current law prevents exchanges registered with either regulator from listing certain cryptocurrency products, including those with leverage, as long as they coordinate with agency staff.
The approval could pave the way for other exchanges holding Designated Contract Market (DCM) status, including Coinbase and prediction market platforms like Kalshi and Polymarket.
