[US CFTC Explores Recognizing Overseas Crypto Exchanges Compliant with Cross-Border Regulatory Requirements] On September 9, Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), stated in a recent speech that the CFTC is studying whether it can recognize overseas cryptocurrency exchanges that adhere to strict crypto asset rules under U.S. cross-border regulatory requirements. This includes platforms that comply with the European Union's Markets in Crypto-Assets (MiCA) framework. Previously, the CFTC reiterated its long-standing regulatory framework for Foreign Boards of Trade (FBOTs), allowing certain non-U.S. crypto exchanges regulated by foreign authorities to directly offer services to U.S. traders by registering as FBOTs (rather than as Designated Contract Markets, or DCMs). This initiative could further promote the compliant development of cross-border crypto trading.