The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) today issued a joint statement on the trading of certain spot crypto asset products.
Specifically, the SEC and CFTC clarify that registered exchanges are not prohibited from facilitating the trading of certain spot commodity products.
“Today’s joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America,” SEC Chairman Paul Atkins said. “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.”
Further, 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 initiative is part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint. It builds on the recommendations of the President’s Working Group on Digital Asset Markets report on “Strengthening American Leadership in Digital Financial Technology.”
“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,” CFTC Acting Chairman Caroline Pham said. “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.”
Market participants are invited to engage with SEC staff or CFTC staff to discuss any questions or concerns they may have.