The U.S. Commodity Futures Trading Commission (CFTC) will soon release guidance regarding registration requirements for foreign trading platforms operating under the Foreign Board of Trade (FBOT) structure. This initiative aims to create a legal framework allowing U.S.-based platforms to facilitate transactions with non-U.S. based exchanges, thus expanding access to global liquidity for American traders. Acting Chair Caroline D. Pham highlighted that this move is part of a broader effort to bring crypto activities back to the United States, following regulatory enforcement actions during the Biden administration. She emphasized the long-standing regulatory framework established in the 1990s, highlighting its robust foundation.