Key takeaways
The CFTC is preparing to let U.S. citizens legally trade on offshore crypto exchanges. This move could reconnect U.S. traders with global liquidity, and reshape the future of digital asset regulation.
Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), Caroline D. Pham, is advocating for a policy that would allow American citizens to legally access and trade on offshore crypto exchanges such as Binance and OKX.
The timing is no coincidence.
U.S.-based Bitcoin [BTC] ETFs are pulling in record volumes, yet they still can’t match the dominance of crypto exchanges.
Even with ETFs churning out nearly $10 billion in daily BTC trades, most retail traders continue to flock to platforms like Binance for both Bitcoin and Ethereum [ETH].
CFTC moves to open offshore exchanges to U.S. traders
The CFTC has announced plans to let U.S. citizens legally trade crypto on offshore exchanges such as Binance, Bybit, and OKX.
The move is part of the agency’s so-called “crypto sprint,” which is aimed at creating regulatory clarity after years of enforcement-first tactics that drove trading overseas.
Republican Pham framed the change as a way to “onshore” activity that fled abroad, offering American traders direct access to global liquidity once again.
“Today’s FBOT advisory provides the regulatory clarity needed to legally onshore trading activity that was driven out of the United States due to the unprecedented regulation by enforcement approach of the past several years.”
She further stated,
“American companies that were forced to set up shop in foreign jurisdictions to facilitate crypto asset trading now have a path back to US markets…”
This is the first time that the CFTC announced that offshore platforms could be brought back into the U.S. reg
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Author: Samyukhtha L KM
