Overview

• Acting Chair Caroline Pham outlined an exploratory plan to extend the Foreign Boards of Trade framework to digital asset venues.
• The pathway would allow direct U.S. customer access to select offshore exchanges only if their rules are comparable to U.S. standards.
• EU platforms authorized under MiCA or MiFID are under consideration for potential eligibility subject to custody, clearing, surveillance, and data‑sharing controls.
• The CFTC recently reaffirmed its FBOT program and set stakeholder engagement, including a joint SEC–CFTC roundtable on Sept. 29 and public comments due Oct. 20 under the Crypto Sprint.
• Officials framed the effort as a practical way to repatriate trading activity under U.S. oversight without new legislation, while emphasizing no approvals or safe harbors have been issued.