The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint statement clarifying that current law “does not prohibit” regulated exchange platforms from offering spot cryptocurrency trading.
The agencies’ clarification means that traditional exchanges could launch their own spot crypto markets, expanding competition and deepening liquidity.
The announcement follows broader legislative developments, such as the approval of the GENIUS Act, which established a federal regulatory framework for stablecoins, and the Digital Asset Market Clarity Act (CLARITY Act).
“Today’s joint statement represents a significant step forward in bringing cryptoasset market innovation back to the United States,” said Paul Atkins, Chairman of the SEC. “Market participants should have the freedom to choose where they trade spot cryptoassets. The SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets,” he added.
This includes Designated Contract Markets (DCMs) registered with the CFTC and National Securities Exchanges (NSEs) registered with the SEC.
The joint statement also added that the initiative is part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, and is based on the recommendations of the Presidential Working Group on Financial Markets report titled “Strengthening American Leadership in Digital Financial Technology.”
“Under the previous administration, our agencies sent mixed signals on regulation and enforcement in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over,” said Caroline D. Pham, Acting Chair of the CFTC, in the same official statement.
“By working together,” she added, “we can empower American innovation in these markets and build on President Trump’s collaborative approach to make the United States the crypto capital of the world. Today’s joint statement is the latest demonstration of our shared goal to support growth and development in these markets, but it won’t be the last.”
The joint statement included a call for market participants to engage “with SEC or CFTC staff, as needed, to discuss any questions or concerns they may have.”
