Overview

• On Aug. 28, the CFTC’s Division of Market Oversight issued an advisory confirming that non‑U.S. exchanges can register as Foreign Boards of Trade to offer direct access to eligible U.S. participants.
• The agency described the advisory as a reminder rather than a rule change, addressing confusion over whether offshore venues should register as FBOTs or designated contract markets.
• The framework explicitly includes digital assets and requires information‑sharing arrangements, comparable home‑jurisdiction supervision, and clearing through CFTC‑registered firms or recognized exemptions.
• Acting Chair Caroline D. Pham framed the step as part of the CFTC’s ‘crypto sprint’ under President Trump to legally onshore trading activity that moved overseas during enforcement‑led years.
• Industry reporting notes that major offshore platforms such as Binance, Bybit, and OKX may evaluate FBOT registration, subject to meeting the comparability and operational conditions.