Crypto Infrastructure in Transition: CFTC Permits Spot Trading and Blockchain Association Expands Board

Historic Step by CFTC for Institutional Investors

The US Commodity Futures Trading Commission (CFTC) has taken a groundbreaking step toward integrating cryptocurrencies into traditional financial market infrastructure. For the first time, spot crypto products can be listed and traded on regulated futures exchanges in the United States ^[2]. The decision marks a paradigm shift for institutional actors who have previously often had to resort to unregulated offshore trading venues.

Caroline Pham, head of the authority, described the step as a milestone: "For the first time, spot crypto can be traded on CFTC-registered exchanges, which have been the gold standard for nearly a hundred years and provide the customer protection and market integrity that Americans deserve" ^[2]. Through regulatory opening, institutional investors now gain clearly defined access to the spot market within an established US regulatory framework that ensures central protection mechanisms ^[2].

Integration into Existing Market Structures

The CFTC emphasizes that the decision takes into account existing legal requirements that restrict trading of certain structured or leveraged commodity products exclusively to regulated exchanges ^[2]. The current measure creates the necessary prerequisites for this product category without introducing new leveraged products itself.

In parallel, the authority is planning further regulatory adjustments to integrate tokenized assets and blockchain-based market infrastructure into existing clearing and reporting processes ^[2]. This signals a comprehensive strategic alignment toward the permanent integration of digital assets into the US financial system.

Blockchain Association Strengthens Leadership

Concurrently with developments in the United States, Germany is also signaling commitment to more professional crypto infrastructure. The Blockchain Association (Blockchain Bundesverband e.V.) has significantly expanded its board and thereby sent a clear signal for stronger innovation and regulatory debates in 2026 ^[1].

At the members' meeting on November 26, 2025, six new board members were elected: Thomas Blank from KfW IPEX-Bank, Sarah Rentschler-Gerloff from Convista Consulting AG, Marie Christin Rinke from MÖHRLE HAPP LUTHER, Nina Siedler, Alireza Siadat, and Hagen Weiss ^[1]. The new appointments bring additional expertise from banking, consulting, regulation, legal and tax advisory, and corporate blockchain applications to the association ^[1].

Strategic Reorientation for 2026

Rentschler-Gerloff brings deep expertise in CBDCs, stablecoins, treasury processes, and digital assets & custody, while Siedler strengthens regulatory and legal competence in blockchain regulation, Web3 law, and data economy ^[1].

For 2026, the Blockchain Association announces intensive discussions on innovation and efficiency in Germany ^[1]. The focus will be on the visibility of leading blockchain solutions from the membership base as well as active participation in political and regulatory debates in Germany and the DACH region. The goal is to strengthen the crypto ecosystem and demonstrate how strategic deployment of technical innovations can contribute to competitiveness and sovereignty of business and public administration ^[1].

Outlook on Professionalized Markets

The parallel developments in the United States and Germany illustrate the global trend toward professionalization of crypto infrastructure. While the CFTC is enabling institutional actors to access regulated spot markets, the German blockchain sector is positioning itself through expanded expertise for upcoming regulatory debates. Both steps are likely to further accelerate the integration of digital assets into established financial structures.