The Commodity Futures Trading Commission issued a letter Thursday explaining how it would allow a pathway for overseas #Crypto exchanges to legally accept U.S.-based customers. The guidance could benefit crypto exchanges such as Binance, Bybit, BitGet, which currently ban U.S. users. That means it could introduce more competition for domestic exchanges such as Coinbase. CFTC acting chair Caroline Pham said the guidance will bring back “trading activity that was driven out of the U.S. due to the unprecedented regulation by enforcement approach of the past several years.” Many trading firms, such as Jane Street and Jump Crypto, have set up their crypto trading operations outside of the U.S., in part because that allows them to access Binance, the biggest global crypto exchange. cftc.gov/PressRoom/PressR..