According to @EleanorTerrett, derivatives exchange Bitnomial is preparing to offer spot crypto trading, described as the first CFTC-regulated spot crypto trading, signaling a potential new onshore venue for digital assets (source: @EleanorTerrett on X, Dec 1, 2025). The report adds that U.S. crypto market-structure talks are coming down to the wire this week, highlighting a near-term regulatory window to monitor (source: @EleanorTerrett on X, Dec 1, 2025). For trading desks, the update frames this week as a watch period for developments that could influence order flow and liquidity across majors such as BTC and ETH if the venue launch proceeds as indicated (source: @EleanorTerrett on X, Dec 1, 2025). The post does not provide a launch date or a list of supported assets, leaving timing and product scope to be confirmed (source: @EleanorTerrett on X, Dec 1, 2025).

According to the source, Gemini and the U.S. SEC have reached a resolution in principle in a two-year-old court case. Based on the source's report, traders are watching for how a potential case wrap-up could influence perceived U.S. regulatory risk and near-term liquidity across majors like BTC and ETH. Per the source, market focus now shifts to forthcoming court filings or settlement details that could clarify operational implications for Gemini and counterparties.