Caroline Pham, acting chair of the US Commodity FuturesTrading Commission, is in discussions with regulated US crypto exchanges tointroduce leveraged spot cryptocurrency products. The launch could occur asearly as next month, according to a statement Pham made yesterday (Sunday) via X.Digitalassets meet tradfi in London at the fmls25In August, the CFTClaunched an initiative to allow trading of spot crypto asset contracts onregistered exchanges. The regulator invited public feedback on rules coveringretail trading with leverage, margin, or financing.CFTC Reviews Rules for Leveraged CryptoPham confirmed that she is advocating for leveraged spotcrypto trading and continues to meet with industry representatives despite theongoing government shutdown. The regulator is also reviewing guidance forleveraged spot crypto products.Under the Commodity Exchange Act, a retail commoditytransaction executed on a leveraged or margined basis is under the CFTC’sjurisdiction unless the transaction results in actual delivery of the commoditywithin 28 days. This means that leveraged crypto spot positions would only bepermitted if their duration is limited to 28 days.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, 2025Senate Continues Crypto Market Structure TalksThe development comes amid broader uncertainty about UScrypto regulation. In early October, the Securities and Exchange Commission limited its activity to emergency cases due to the shutdown. Despite this, Senate lawmakers have reportedly continueddiscussions on legislation concerning crypto market structure rules.CFTC Leadership Uncertainty Grows After WithdrawalMeanwhile, the White House haswithdrawn Brian Quintenz’s nomination to lead the U.S. Commodity FuturesTrading Commission, ending a confirmation process that faced delays andopposition. Quintenz, a former commissioner, was nominated earlier this year toreplace Pham. He thanked the President and Senate Agriculture Committeeand said he would return to the private sector. The nomination stalled amidSenate delays and industry pushback, including concerns from parts of thecrypto sector. This article was written by Tareq Sikder at www.financemagnates.com.