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Recognized Market Operators (RMOs) in foreign countries may be recognized and exempted from U.S. registration to facilitate cross-border trading and investment while ensuring that high regulatory standards are maintained. This recognition is based on the premise that the foreign operators are subject to rigorous oversight and regulatory frameworks in their home jurisdictions that are deemed equivalent to U.S. standards. By granting exemptions, regulators aim to streamline international market access, reduce regulatory redundancy, and foster global market integration, while still protecting U.S. investors and maintaining market integrity through conditional oversight and adherence to comparable regulatory practices.