Bitnomial to Launch First CFTC-Regulated Spot Crypto Exchange in US

Bitnomial, a fintech firm based in Chicago, is on track to become the first Designated Contract Market (DCM)-licensed cryptocurrency exchange in the US to offer spot crypto trading. The company has filed a self-certification declaration with the Commodity Futures Trading Commission (CFTC) under regulation 40.6(a), which permits DCMs to offer spot products if they meet specific requirements.

Bitnomial has updated its company rules to accommodate spot trading without affecting DCM compliance standards. These updates became effective on November 28.
Unlike other exchanges like Coinbase and Kraken, which are regulated by state authorities, Bitnomial would be the first to offer federally-regulated spot crypto trading.
The CFTC had a 10-day window to reject Bitnomial's filing, submitted on November 13, but it appears the filing has been approved as there was no rejection within this period.

The CFTC's "Crypto Sprint" program aims to advance the US as a leader in the crypto sector. As of now, neither Bitnomial nor the CFTC have publicly commented further on the filing.