Crypto.com secures CFTC and NFA approvals, expanding U.S. derivatives operations with margined products, futures clearing, and compliance-driven trading services.
Crypto.com just got a gold star from the CFTC and NFA for its derivatives business. Who knew crypto needed a participation trophy to play in the U.S. market? 🏆 Now they’re “officially” offering margined derivatives, futures clearing, and whatever “compliance-driven trading” means. Spoiler: It probably still involves people losing money on Dogecoin. 🐕💸
The approvals are for two entities-because apparently, one Crypto.com wasn’t enough. CDNA, their CFTC-registered exchange, now gets to clear margined derivatives. Translation: They’ll let you gamble with crypto while pretending it’s “regulated.” Meanwhile, Foris DAX FCM (a name that sounds like a tax audit) is now a Futures Commission Merchant. Congrats, you’re now the guy who takes your money and… does something? 🤷♂️
Related Reading: Crypto.com Data Leak Revealed: Hidden Attack Exposed by Bloomberg | Live Bitcoin News
Kris Marszalek, CEO, said the licenses will create a “seamless trading experience.” Oh, great! Because nothing says “seamless” like navigating a maze of regulatory jargon while your life savings vaporize. 🚨 Also, retail clients will soon get “regulated leveraged derivatives.” Because who *wouldn’t* want to borrow $100k to buy Bitcoin at 5 PM on a Friday? 🤡
Steve Humenik, Head of Clearing, praised CFTC Chair Caroline Pham for “advancing approvals.” Let’s give her a round of applause for letting a crypto company pretend to be Wall Street. 🎉 Meanwhile, Nick Lundgren, the CLO, called this a “regulatory milestone.” Sure, it’s a milestone… right before the cliff. 🏁
The new licenses also tie into their “pre-existing suite of products,” which includes spot markets, custody, prediction markets, equities, and payment services. Because why stick to one thing when you can confuse everyone with 17 overlapping services? 🌀 Analysts say this’ll attract institutional capital. Or maybe it’ll just attract more headlines about crypto bros getting rich or broke. 📉📈
Industry observers say the CFTC/NFA nod makes crypto derivatives feel “more credible.” Oh, nothing says “credibility” like a company that once had a data leak and a CEO who thinks “HODL” is a strategy. 🤦♂️ And somehow, this aligns with Trump’s promise to make America great at crypto. Because nothing says “leadership” like a digital asset market that crashes harder than a diet on a buffet. 🍽️🔥
Crypto.com promises more updates “soon,” but access will depend on “local terms and jurisdictional approvals.” In other words: “We’ll tell you when we’re ready… if you’re lucky.” Founded in 2016, they’re clearly building a legacy of confusion and compliance. 🏗️📜
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2025-09-29 01:22