U.S. financial regulators are taking steps to support innovation in digital assets by issuing a joint statement.
Joint SEC and CFTC Statement on Spot Trading
The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have issued a joint statement clarifying that exchanges registered with either agency can facilitate trading of certain spot crypto products. This measure underscores a commitment to expanding trading options while maintaining regulatory oversight.
Steps Toward Innovation in the Crypto Market
SEC Chairman Paul Atkins described the announcement as 'a significant step forward in bringing innovation in the crypto asset markets back to America,' emphasizing that market participants should have flexibility in choosing where to trade spot crypto assets. Acting CFTC Chair Caroline Pham noted that the joint guidance reflects a departure from prior mixed messaging, signaling a broader effort to position the U.S. as a global hub for crypto markets.
Encouraging Market Participation and Engagement with Regulators
The statement encourages market participants to engage directly with SEC and CFTC staff to resolve questions or concerns, reflecting a collaborative approach to policy development. This initiative builds on recommendations from the President’s Working Group on Digital Asset Markets, which stressed the importance of strengthening U.S. leadership in digital financial technologies. It is important to note that the SEC's cryptocurrency working group recently held meetings with representatives of tokenized asset companies to discuss the infrastructure required for token trading systems
The joint statement by the SEC and CFTC marks an important step towards simplifying trading processes and creating a secure environment for spot trading of crypto assets in the U.S.
