{"id":176232,"date":"2025-12-05T12:00:00","date_gmt":"2025-12-05T12:00:00","guid":{"rendered":"https:\/\/cryptonews.com\/fr\/?p=176232"},"modified":"2025-12-05T10:05:28","modified_gmt":"2025-12-05T10:05:28","slug":"cftc-spot-crypto-marches-us","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/fr\/news\/cftc-spot-crypto-marches-us\/","title":{"rendered":"CFTC : le spot crypto d\u00e9barque sur des march\u00e9s US enregistr\u00e9s, un tournant historique"},"content":{"rendered":"<p>La CFTC a annonc\u00e9 que des produits spot crypto list\u00e9s vont commencer \u00e0 \u00eatre n\u00e9goci\u00e9s. Pour la premi\u00e8re fois, ils seront propos\u00e9s sur des futures exchanges enregistr\u00e9s aupr\u00e8s du r\u00e9gulateur. L\u2019acting chair Caroline Pham pr\u00e9sente ce virage comme une r\u00e9ponse directe aux d\u00e9faillances d\u2019exchanges offshore. C\u2019est aussi une \u00e9tape vers des march\u00e9s US plus s\u00fbrs pour les Am\u00e9ricains.<\/p><h2 class=\"wp-block-heading\"><strong>Ce que la CFTC a r\u00e9ellement autoris\u00e9<\/strong><\/h2><span class=\"replacer\"><\/span><p>Le point cl\u00e9 est <strong>le mot \u00ab list\u00e9 \u00bb<\/strong>. La <a href=\"https:\/\/www.cftc.gov\/digitalassets\/index.htm\" target=\"_blank\" rel=\"noreferrer noopener\">CFTC<\/a> ne parle pas d\u2019un spot crypto <strong>sans cadre<\/strong>. Elle parle de contrats spot list\u00e9s sur des plateformes d\u00e9j\u00e0 r\u00e9gul\u00e9es par elle, en tant que Designated Contract Markets.<\/p><p>Bitnomial serait l\u2019un des premiers acteurs pr\u00eats \u00e0 lancer ce type de produits. L\u2019id\u00e9e est d\u2019\u00e9tendre <strong>une infrastructure d\u00e9riv\u00e9s existante \u00e0 des transactions spot<\/strong>, dans le m\u00eame environnement de surveillance et de conformit\u00e9. Ce mouvement s\u2019appuie sur une initiative plus large de la CFTC, lanc\u00e9e \u00e0 l\u2019automne. Elle vise \u00e0 moderniser l\u2019approche des march\u00e9s crypto et des collat\u00e9raux tokenis\u00e9s.<\/p><p>Le signal politique est explicite. La CFTC inscrit cette d\u00e9cision dans une <strong>strat\u00e9gie f\u00e9d\u00e9rale pro-innovation.<\/strong> Celle-ci vise \u00e0 faire revenir une partie de l\u2019activit\u00e9 crypto dans un p\u00e9rim\u00e8tre onshore.<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The CFTC just made one of the biggest announcements in U.S. crypto history.For the first time ever, federally regulated spot crypto products will begin trading on U.S. regulated exchanges fully under the CFTC framework.<br><br>This marks a massive shift.<br><br>\u2022 No more relying solely on\u2026 <a href=\"https:\/\/t.co\/Gt1MD4c5lq\">pic.twitter.com\/Gt1MD4c5lq<\/a><\/p>&mdash; Cypress Demanincor (@CDemanincor) <a href=\"https:\/\/twitter.com\/CDemanincor\/status\/1996777531207209090?ref_src=twsrc%5Etfw\">December 5, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\"><strong>Une brique r\u00e9gul\u00e9e de plus pour la crypto US<\/strong><\/h2><span class=\"replacer\"><\/span><p>Ce changement peut <strong>modifier la g\u00e9ographie du risque<\/strong>. L\u2019argument de la CFTC est simple. Les \u00e9pisodes r\u00e9cents sur des plateformes offshore ont montr\u00e9 les limites d\u2019un march\u00e9 o\u00f9 la protection des clients varie fortement. Dans cette logique, offrir un spot list\u00e9 sur un DCM donne une alternative plus encadr\u00e9e.<\/p><p>Pour le bitcoin, l\u2019impact est d\u2019abord institutionnel. Les ETF spot ont d\u00e9j\u00e0 <strong>normalis\u00e9 l\u2019actif dans la finance traditionnelle<\/strong>. Ici, <a href=\"https:\/\/cryptonews.com\/fr\/news\/cftc-mike-selig-emetteurs-crypto\/\">la CFTC<\/a> cr\u00e9e un autre canal r\u00e9gul\u00e9. Il s\u2019adresse \u00e0 un public qui veut un cadre d\u00e9riv\u00e9s r\u00e9put\u00e9 strict, mais avec une exposition spot plus directe.<\/p><p>Cela ne veut pas dire hausse automatique du prix. Mais cela renforce le narratif d\u2019une int\u00e9gration progressive. Les <a href=\"https:\/\/cryptonews.com\/fr\/news\/etats-unis-leader-cryptos-reglementation\/\">acteurs US<\/a> ajoutent des tuyaux r\u00e9gul\u00e9s. Le capital institutionnel aime les tuyaux clairs.<\/p><p>Sur le plan de la gouvernance am\u00e9ricaine, ce mouvement a aussi <strong>une dimension de rivalit\u00e9<\/strong>. La CFTC \u00e9tend de facto son territoire op\u00e9rationnel autour des actifs num\u00e9riques. La question du partage de comp\u00e9tence avec la <a href=\"https:\/\/www.sec.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">SEC<\/a> reste donc sensible.<\/p><p>Des voix critiques existent d\u00e9j\u00e0. L\u2019ONG Better Markets estime que la d\u00e9cision <strong>expose les investisseurs<\/strong> si elle avance plus vite que la clarification des r\u00e8gles d\u00e9di\u00e9es au spot crypto. Cette lecture rappelle que le d\u00e9bat ne porte pas seulement sur l\u2019innovation, mais aussi sur le rythme de la r\u00e9gulation.<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">BREAKING: The United States Just Ended the Offshore Crypto Era<br><br>December 4, 2025.<br><br>The CFTC has authorized spot Bitcoin and cryptocurrency trading on federally regulated exchanges for the first time in American history.<br><br>Read that again.<br><br>For fifteen years, the agency refused to\u2026 <a href=\"https:\/\/t.co\/QxdaOd3Ru0\">pic.twitter.com\/QxdaOd3Ru0<\/a><\/p>&mdash; Shanaka Anslem Perera \u26a1 (@shanaka86) <a href=\"https:\/\/twitter.com\/shanaka86\/status\/1996725892589277469?ref_src=twsrc%5Etfw\">December 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\"><strong>Ce que le march\u00e9 peut surveiller d\u00e8s d\u00e9cembre<\/strong><\/h2><span class=\"replacer\"><\/span><p>\u00c0 court terme, le march\u00e9 va juger sur pi\u00e8ces. Les <strong>premi\u00e8res s\u00e9ances de trading<\/strong>, si elles se confirment la semaine prochaine, donneront une indication sur la demande r\u00e9elle et la liquidit\u00e9 disponible.<\/p><p>Un autre enjeu sera <strong>la p\u00e9dagogie<\/strong>. Beaucoup de lecteurs confondront \u201cspot list\u00e9 sur un DCM\u201d et spot traditionnel. Or le framing est diff\u00e9rent. Il implique des r\u00e8gles de march\u00e9, de surveillance et de reporting propres au cadre CFTC.<\/p><p>Enfin, ce dossier arrive <strong>au c\u0153ur d\u2019une s\u00e9quence politique plus large<\/strong>. Reuters rappelle que l\u2019administration Trump soutient plusieurs textes visant \u00e0 clarifier les statuts des actifs num\u00e9riques, dont le <a href=\"https:\/\/www.congress.gov\/bill\/119th-congress\/senate-bill\/1582\/text\" target=\"_blank\" rel=\"noreferrer noopener\">GENIUS Act<\/a> et le CLARITY Act. Si ces cadres se pr\u00e9cisent en 2026, la CFTC pourrait \u00e9tendre la liste des actifs \u00e9ligibles et consolider un mod\u00e8le hybride, entre spot list\u00e9 et d\u00e9riv\u00e9s classiques.<\/p><p>Pour l\u2019instant, le message principal est limpide. La CFTC veut ancrer une partie du spot crypto dans des march\u00e9s US f\u00e9d\u00e9ralement r\u00e9gul\u00e9s. C\u2019est un jalon pour le bitcoin. Et c\u2019est un test grandeur nature pour la cohabitation SEC\/CFTC dans la prochaine phase de la normalisation crypto.<\/p><hr class=\"wp-block-separator has-alpha-channel-opacity\"><p>Source : <a href=\"https:\/\/www.cftc.gov\/digitalassets\/index.htm\" target=\"_blank\" rel=\"noreferrer noopener\">CFTC<\/a><\/p><hr class=\"wp-block-separator has-alpha-channel-opacity\"><p>Pour aller plus loin sur le sujet :<\/p><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/polymarket-revient-marche-us-cftc\/\">Polymarket revient sur le march\u00e9 US sous supervision compl\u00e8te de la CFTC<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/etats-unis-leader-cryptos-reglementation\/\">Les \u00c9tats-Unis, leader des cryptos avec la r\u00e9glementation ? Tout ce qu\u2019il faut savoir sur le sujet<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/cftc-mike-selig-emetteurs-crypto\/\">CFTC nouvelle \u00e8re : Mike Selig aux commandes, cap sur 2026 pour les \u00e9metteurs crypto<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>La CFTC a annonc\u00e9 que des produits spot crypto list\u00e9s vont commencer \u00e0 \u00eatre n\u00e9goci\u00e9s. Pour la premi\u00e8re fois, ils seront propos\u00e9s sur des futures exchanges enregistr\u00e9s aupr\u00e8s du r\u00e9gulateur. L\u2019acting chair Caroline Pham pr\u00e9sente ce virage comme une r\u00e9ponse directe aux d\u00e9faillances d\u2019exchanges offshore. C\u2019est aussi une \u00e9tape vers des march\u00e9s US plus s\u00fbrs [&hellip;]<\/p>\n","protected":false},"author":697,"featured_media":176233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,42,1],"tags":[],"editors":[2551],"sponsored_companies":[],"class_list":["post-176232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-finance-news","category-news","editors-julien-leroy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CFTC : le spot crypto d\u00e9barque sur des march\u00e9s US enregistr\u00e9s<\/title>\n<meta name=\"description\" content=\"La CFTC a annonc\u00e9 que des produits spot crypto list\u00e9s vont commencer \u00e0 \u00eatre n\u00e9goci\u00e9s sur des futures exchanges enregistr\u00e9s.\" 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