CFTC to Authorize Leveraged Spot Crypto Trading on U.S. Exchanges by December 2025

The U.S. Commodity Futures Trading Commission plans to authorize leveraged spot cryptocurrency trading on regulated domestic exchanges by December 2025. Acting Chair Caroline Pham confirmed the agency is in active discussions with major platforms including CME Group, Cboe Futures Exchange, and Coinbase Derivatives. The products will operate under existing commodities law oversight, focusing on Bitcoin and Ethereum.