Crypto trading in the United States may soon receive more recognition. Surprisingly, this time, it’s coming straight from the top of the Commodity Futures Trading Commission (CFTC).
Acting Chair Caroline Pham says she is ready to move forward with new rules that could allow leveraged crypto trading as early as next month.
CFTC Wants Leveraged Spot Crypto Trading
Caroline Pham confirmed that she is in active talks with regulated US crypto exchanges. CFTC wants to launch leveraged spot crypto products soon. If everything goes as planned, these products will go live next month.
— Caroline D. Pham (@CarolineDPham) November 9, 2025
Leveraged spot trading enables users to buy assets using borrowed funds. It increases both upside potential and downside risk. Traditional markets heavily regulate this type of trading. The CFTC now aims to allow this type of trading in the crypto industry as well.
The CFTC is also preparing to release guidelines on how leveraged spot products should work. This follows a larger initiative they announced back in August. That initiative invited public feedback on rules for retail crypto trading involving leverage, margin, or borrowing.
JUST IN: 🇺🇸 CFTC’s Acting Chair Caroline Pham confirms push to launch leveraged spot crypto trading on U.S. exchanges. pic.twitter.com/ENyOiTI1om
— Bitcoin Magazine (@BitcoinMagazine) November 10, 2025
There is one major restriction that everyone needs to be aware of. Under the Commodity Exchange Act, leveraged crypto spot trades are only legal if “actual delivery” happens within 28 days. If you use leverage to buy crypto, you must receive the real asset within 28 days. If not, the trade becomes illegal. Therefore, any exchange offering these products must design them to comply with this rule.
Crypto Pushes Ahead Even During Government Shutdown
The US government has been in a shutdown since October 1. Many agencies paused their work, but the CFTC continued to move forward. Pham also maintained contacts with the industry leaders throughout the shutdown. Nevertheless, senators did not stop discussing new bills regarding the crypto market structure. Even the SEC continued emergency activities. So despite the slowdown, crypto policy is still moving forward.
CFTC SIGNALS LEVERAGED SPOT CRYPTO TRADING ON REGULATED EXCHANGES
The Acting CFTC Chair confirmed they are working with regulated U.S. exchanges to introduce leveraged spot crypto trading.
This would allow traders to use leverage directly on spot Bitcoin and crypto markets,… pic.twitter.com/DgIjcW8jZP
— CryptosRus (@CryptosR_Us) November 10, 2025
Conclusion
The United States may be entering a new era of crypto trading. If the CFTC succeeds, leveraged spot trading could run as early as next month. This could lead to the introduction of new products, opportunities, and associated risks.
Nothing is final yet, but the momentum is real, and Caroline Pham is making it obvious that the US intends to stay in the game.

Disclaimer
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