The US Commodity Futures Trade Commission (CFTC) could allow trading platforms licensed under Europe’s new MICA framework to operate in the American market, acting Chairman Caroline D. Fam told British lawmakers.
Before the All-Parliamentary Group on Blockchain Technologies in London, Pham said the CFTC is investigating whether mica certification venues can qualify under the prominent recognition rules.
“The CFTC will investigate whether trading platforms authorized under the Crypto Asset Regulation (MICA) or similar virtual assets or crypto assets regimes are also eligible under CFTC’s current cross-border framework.
Comment by @CFTCPHAM before the UK All-Parliamentary Group on Blockchain Technology, Parliament’s International Roundtable Digital Asset Policy and Regulations: https://t.co/wprhrphf
– CFTC (@CFTC) September 8, 2025
CFTC is turning to mica in Europe
The acting CFTC chairperson said many US crypto companies have moved abroad due to long-standing regulatory uncertainty, with some establishing that they are preparing for MIFID or MICA approvals in Europe.
Her remarks suggest that the groundbreaking European market in regulating code breakdowns can provide a gateway for the first time to access US participants.
“The lack of clarity in US regulations and the enforcement-first approach of the past few years have led to many US companies establishing affiliates in non-US jurisdictions with clear regulation of cryptocurrency activities.”
Beyond cross-border issues, Fam said Washington is in a “new beginning” of coordination between the SEC and CFTC. The two regulators will hold a joint roundtable later this month to discuss harmonious product definitions, data standards and innovation exemptions.
US Crypto Roadmap
Comments follow the release of the Trump administration’s digital asset roadmap. This calls for modernized banking rules, stronger stubcoin surveillance, and new tools like safe harbors and sandboxes.
The CFTC has launched a “cipher sprint” that seeks public feedback on listed spot crypto transactions. Comments were made by October 20th. Pham said regulations remain “technologically neutral” and that they must warn repeatedly of repeated mistakes in the Dodd-Flank Act, which created “regulatory moats and market fragmentation.”
Through her role in the CFTC’s Global Markets Advisory Committee, Pham is seeking practical cross-border rules. She said working with administrations like MICA, which already covers capital, custody, transparency and retail protections, could prevent further fragmentation.
US market regulators have recently shown openness towards cryptocurrency trading, saying existing registration platforms can handle spot transactions under surveillance.
nyse, NASDAQ, CBOE, CME, etc. will soon have spot trading such as BTC, ETH. https://t.co/qzo3ysydqa
– Matthew Sigel, Recovering CFA (@matthew_sigel) September 2, 2025
In the joint statement, the Securities and Exchange Commission and the CFTC encourage platforms to approach them with questions, suggesting their willingness to work within the current framework rather than waiting for new laws.
The move highlighted the agency’s coordinated efforts to provide regulatory clarity as the US continues to discuss broader digital asset laws.
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