Regulatory Bodies SEC and CFTC approve crypto spot trading on registered exchanges

In a significant move aimed at strengthening American leadership in digital financial technology, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint statement regarding the trading of certain spot crypto asset products.

The joint statement, which is part of the SEC's Project Crypto and the CFTC's Crypto Sprint, encourages market participants to seek dialogue with either the SEC or CFTC staff for clarification on the trading of these products. Market participants are invited to discuss any questions or concerns they may have, and the SEC's and CFTC's Divisions are open to discussions about the potential exchange trading of certain spot crypto asset products.

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 these products on registered exchanges. The Divisions of the SEC and CFTC are prepared to support the consideration of exchange trading in these spot crypto asset products by their respective agencies.

The joint effort between the two agencies aims to promote trading venue choice and optionality for market participants. According to the joint statement, SEC- and CFTC-registered exchanges are not prohibited from facilitating the trading of certain spot commodity products.

SEC Chairman Paul Atkins stated that today's joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America. CFTC Acting Chairman Caroline D. Pham mentioned that the joint agency statement is the latest demonstration of their mutual objective of supporting growth and development in these markets.

Caroline Pham, the acting chair of the CFTC, is leading the implementation of crypto recommendations and engaging with the industry amid a pending permanent chair appointment. On the SEC side, the SEC chair supports market freedom in joint crypto regulation efforts with the CFTC, but no specific name was given. Thus, Caroline Pham (CFTC acting chair) and the current SEC chair (unnamed) are key figures in preparing these crypto trading product regulations.

The SEC and CFTC are extending an invitation to market participants to engage in discussions about the trading of certain spot crypto asset products on registered exchanges. The SEC's and CFTC's Divisions are also offering support for market participants inquiring about the trading of these products on registered exchanges.

Market participants are encouraged to reach out for discussions about the trading of certain spot crypto asset products on registered exchanges. The SEC's and CFTC's Divisions are ready to engage with market participants regarding exchange trading of these products.

In conclusion, the SEC and CFTC's joint initiative is a significant step towards promoting innovation and growth in the crypto asset markets. By encouraging dialogue and offering support, the two agencies aim to provide clarity and facilitate the trading of certain spot crypto asset products on registered exchanges.

Regulatory Bodies SEC and CFTC approve crypto spot trading on registered exchanges