SEC and CFTC staff clear path for spot crypto trading
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SEC and CFTC staff clear path for spot crypto trading 03 SeptemberUS Reporter: Tahlia Kraefft
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The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint statement declaring that registered exchanges can enable the trading of certain spot crypto asset products.
The announcement from both agencies’ staff divisions marks the first cooperation between the SEC and CFTC on spot crypto trading rules, as it seeks to tackle enduring regulatory uncertainty that has restricted exchange offerings in digital assets.
The SEC’s Division of Trading and Markets and the CFTC’s Division of Market Oversight and Division of Clearing and Risk are coordinating efforts to facilitate the trading of certain spot crypto asset products on registered exchanges.
This project is part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, and it draws on recommendations made by the President’s Working Group on Digital Asset Markets report on ‘Strengthening American Leadership in Digital Financial Technology’.
The collaborative effort represents how staff of the two agencies can partner to advocate for trading venue choice and optionality for market participants.
The agencies have said they are prepared to engage with market participants looking to start spot crypto products on registered venues.
SEC Chairman Paul Atkins comments: “Today’s joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America. Market participants should have the freedom to choose where they trade spot crypto assets. The SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets.”
CFTC Acting Chairman Caroline D. Pham adds: “Under the prior administration, our agencies sent mixed signals about regulation and compliance in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over. By working together, we can empower American innovation in these markets and build on President Trump’s collaborative approach to making America the crypto capital of the world. Today’s joint agency statement is the latest demonstration of our mutual objective of supporting growth and development in these markets, but it will not be the last.”
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