Regulators in Washington on Thursday approved a major step that will allow Americans to act on the ground Bitcoin and other cryptocurrencies on federally registered exchanges for the first time.
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Spot crypto products can now be listed on exchanges, according to the Commodity Futures Trading Commission offered on exchanges registered with the agency, a move announced on December 4, 2025.
Regulated spot trading begins
The action comes from a CFTC press release labeled Release No. 9145-25 and that the amendment allows spot crypto contracts to be listed on futures exchanges registered with the CFTC.
The regulator said its rules now allow such listings to trade under the supervision and supervision standards that these exchanges already follow.
.@CFTCpham Announces the first-ever listed spot crypto trading on US regulated exchanges: https://t.co/89Mx6f0ss4
— CFTC (@CFTC) December 4, 2025
Bitnomial shows the way
Bitnomiala Chicago-based derivatives exchange, will be the first exchange to market such products, with plans to offer both leveraged and non-leveraged spot trading on its platform.
Market announcements and statements show that Bitnomial moved quickly to adopt the new framework, announcing a launch and filing documents that position it as the first U.S. trading platform to trade listed cryptocurrencies under CFTC rules.
What this means for investors
According to market commentators and reports, this shift brings spot trades under long-standing market protections, such as clearing, supervisory and execution rules that apply to other listed products.
That could make some institutional players and large funds more willing to trade onshore. At the same time, regulators say this is intended to draw activity away from unregulated offshore locations and improve market supervision.
Acting chair Caroline Pham said the move is intended strengthen the position of the US in the crypto market, while giving traders access to more secure and transparent trading platforms.
Risks remain
Reports have shown that the change does not eliminate crypto’s underlying risks: prices can fluctuate widely, and no regulatory measure can stop market volatility.
Furthermore, only exchanges that seek and obtain the appropriate CFTC registration will be able to use this route, so most offshore platforms will remain out of US supervision for the time being.
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Next steps
Observers will be watching to see whether other U.S. exchanges follow Bitnomial, how many retail investors gain access, and how the SEC responds to parallel issues such as token classification and custody rules.
The CFTC had flagged this path in August as part of a broader initiative to enable listed crypto trading, and agencies have since coordinated on guidance and public engagement.
The CFTC’s acting chairman said this brings cryptocurrency spot trading into a regulated environment that Americans can trust, and that exchanges with the right protections can now list these products.
This development is part of a months-long policy push by the government to create clearer rules for digital assets.
Featured image of Barron’s, chart from TradingView