The Commodity Futures Trading Commission (CFTC) is set to release a clarification proposal on Foreign Board of Trade (FBOT) registration rules, aiming to provide a compliance pathway for non-U.S. trading platforms to allow U.S. users to participate. Acting Chair Caroline D. Pham stated that this initiative seeks to reclaim crypto trading activities that have moved offshore due to regulatory policies under the Biden administration, while reaffirming the legal framework established since the 1990s.