The Commodity Futures Trading Commission (CFTC) has introduced a major regulatory update enabling offshore crypto exchanges to offer their platforms to US users through a formal registration process. Under this framework, non-US exchanges like Binance, Bybit, and OKX can now legally serve American clients by registering as Foreign Boards of Trade (FBOTs). This move brings much-needed clarity to the rules governing cross-border digital asset trading and reverses years of uncertainty that had previously driven US traders and crypto firms offshore.

This advisory marks a pivotal step in aligning the US with the global push to modernize digital asset regulation, commonly referred to as the “crypto sprint.” By allowing foreign exchanges to register and comply with US-comparable standards, the CFTC seeks to provide Americans with safer access to a broader range of crypto products while protecting investor interests. Restoring access to global platforms is also expected to boost liquidity and revitalize participation in major cryptocurrencies like Bitcoin and Ethereum from US traders.

Acting CFTC Chair Caroline Pham highlighted the goal of offering US traders a choice of deep and liquid global markets, enabling American companies—many of which had previously relocated abroad due to regulatory ambiguity—to return to domestic markets. The new rules apply to all asset classes handled by registered exchanges, covering both traditional and digital assets. This shift also dismantles barriers that had limited US residents to only a handful of domestic crypto platforms.

To further improve market oversight, the CFTC is adopting advanced market surveillance technologies designed to enhance fraud detection and monitor trading activities in real time. This comprehensive approach underscores the regulator’s commitment to building a safer, more competitive digital asset environment and opening US markets to wider global participation.