The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) released a joint staff statement on Tuesday revealing a collaborative initiative to supervise and facilitate spot crypto trading within the United States.
The agencies elucidated that current regulations do not prohibit regulated US or foreign exchanges, such as national securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs) from listing spot crypto products, including those with leverage and margin options.
This initiative follows suggestions from the President’s Working Group on Digital Asset Markets, which urged regulators to ensure transparency and maintain blockchain innovation in the United States.
“Today, the Divisions express their belief that DCMs, FBOTs, and NSEs are not restricted from enabling the trading of specific spot crypto asset products. Market participants are encouraged to engage with SEC staff or CFTC staff, as necessary.”
Regulators announced their preparedness to assess exchange filings, resolve inquiries on custody and clearing, and guarantee that new spot markets adhere to standards for transparency, surveillance, and investor protection. Market participants were welcomed to reach out to the SEC or CFTC with proposals and queries.
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Implications of the SEC–CFTC statement for spot crypto trading
Although crypto exchanges like Coinbase and Kraken already provide spot trading, the statement indicates that traditional finance platforms are not barred from offering similar products should they choose to pursue that route.
Following the staff guidance, major regulated platforms like Nasdaq, the New York Stock Exchange, CME Group, and Cboe Global Markets, alongside select foreign boards of trade acknowledged by the CFTC, may qualify to list spot crypto products.
This staff guidance serves as the latest indication of how US policy regarding digital assets has evolved under the administration of US President Donald Trump.
Since January, both Congress and the White House have advocated for clearer regulations surrounding crypto markets, addressing stablecoin oversight such as the Genius Act and clarifying the roles of the SEC and CFTC.
On July 17, the House of Representatives approved the CLARITY Act, a market structure bill for cryptocurrencies that is now set to be evaluated in the Senate.
In July, the President’s Working Group on Digital Asset Markets issued a report urging regulators to provide “regulatory clarity that best preserves blockchain-based innovation in the United States,” specifically requesting the SEC and CFTC to collaborate on spot crypto trading.
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