The acting chairman of the CFTC in the United States has confirmed that he is promoting the launch of leveraged Spot Crypto Assets trading on regulated exchanges.

[The acting chair of the CFTC confirms that it is promoting the launch of leveraged spot crypto asset trading on regulated exchanges] Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), confirmed that the agency is in direct talks with regulated exchanges to launch leveraged spot crypto asset trading products, which could be available as early as next month. Pham has held discussions with designated contract market exchanges regulated by the CFTC, including CME, Cboe Futures Exchange, and ICE Futures, as well as CEX Derivatives, Kalshi, and Polymarket US, to negotiate the launch of spot crypto assets trading products involving margin, leverage, and financing. Pham did not wait for Congress to act to clearly grant the CFTC regulatory authority over the spot crypto market but instead utilized existing provisions of the Commodity Exchange Act, which require that any retail trade of commodities involving leverage, margin, or financing must be conducted on regulated exchanges. Trump has nominated SEC official Mike Selig to replace Pham, but it is unclear when Selig will receive Senate confirmation due to the government shutdown. It is reported that Pham is expected to join MoonPay after being replaced.