The cryptocurrency market tilted bearish over the past 24 hours as most coins traded in the red. Bitcoin’s (BTC) bounce fizzled out yet again after crossing $113,000 as it fell to $111,000 before registering a marginal recovery and moving to its current level. BTC is down almost 2% over the past 24 hours, trading around $111,110. 

Meanwhile, Ethereum (ETH) reclaimed the $4,600 mark on Thursday but lost momentum as market sentiment soured. As a result, the altcoin fell below $4,500 and moved to its current level of $4,470, down over 2%. Ripple (XRP) is down nearly 4% although Solana (SOL) is marginally up, trading around $211. Dogecoin (DOGE) is down over 3%, while Cardano (ADA) is down 4%, trading around $0.834. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered notable declines. 

CFTC Issues Guidance Allowing Americans To Trade On Non-US Exchanges 

The Commodity Futures Trading Commission (CFTC) has issued new guidance allowing non-US exchanges to legally provide trading services and market access to American citizens. The guidance, issued on August 28, upholds the Foreign Board of Trade registration system in accordance with CFTC Part 48 regulations. It lays out a clear pathway for foreign platforms and allows them to register as FBOTs instead of as Designated Contract Markets, and applies them to all asset classes, including digital assets. 

The distinction clears confusion about whether offshore crypto platforms need full DCM registration. The confusion led to considerable law enforcement actions and pushed trading activity abroad. Acting CFTC Chair Caroline Pham described the move as part of the CFTC’s “crypto sprint” under the Trump administration, as it attempts to modernize outdated market and regulatory frameworks. 

“Today’s FBOT advisory provides the regulatory clarity needed to legally onshore trading activity that was driven out of th

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Author: Amara Khatri

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