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