CFTC guidance for foreign firms establishes a formal pathway for non‑U.S. exchanges — including crypto platforms — to register under the Foreign Board of Trade framework and operate in U.S. markets, subject to registration, reporting and compliance requirements imposed by the commission.
Foreign Board of Trade registration creates a legal path for overseas crypto exchanges to access U.S. markets.
New CFTC guidance clarifies registration, reporting and supervision expectations for foreign trading venues.
Regulatory context: Acting CFTC Chair Caroline D. Pham framed the guidance as restoring clarity after years described as “regulation through enforcement”; Binance’s 2023 $4.3 billion settlement previously required U.S. exit.
CFTC guidance for foreign firms opens a path for overseas crypto exchanges to register and operate in U.S. markets; read compliance steps and market impact.
By COINOTAG — Published: 2025-08-28 — Updated: 2025-08-28
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The CFTC guidance for foreign firms explains how non-U.S. boards of trade can qualify under the commission’s registration framework to serve U.S. participants. The guidance applies equally to traditional and crypto markets and details registration, reporting and surveillance expectations for foreign trading venues.
The guidance offers a compliance pathway for crypto exchanges that previously routed activity offshore to avoid U.S. oversight. Acting CFTC Chair Caroline D. Pham called the move a response to “regulation through enforcement” and said it creates a path for American companies to return to regulated U.S. markets. The CFTC emphasized parity between traditional futures/derivatives venues and crypto trading platforms.
The CFTC frames the guidance as restoring regulatory clarity and leveling the playing field between markets. Officials expect clearer rules to reduce legal uncertainty for U.S. firms and encourage responsible market access while preserving the commission’s authority to oversight, surveillance and enforcement where rules are broken.
Exchanges must register under the Foreign Board of Trade framework and meet CFTC standards on market surveillance, recordkeeping, reporting and anti‑manipulation controls. The framework expects robust compliance programs and cooperation with U.S. regulators. Firms are advised to document systems, controls and governance to demonstrate equivalence with U.S. requirements.
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Source: https://en.coinotag.com/cftc-guidance-may-open-u-s-operating-pathway-for-binance-and-other-foreign-crypto-exchanges/