Photo: Tierney L. Cross
Key takeout
The SEC and CFTC have issued a joint staff statement clarifying that registered US exchanges are not prohibited from listing certain Spot Crypto products. Agency leaders framed the move as a reversal from past mixed signals. This is part of our efforts to make the US a global hub for blockchain innovation.
Please share this article
The Securities and Exchange Commission (SEC) and the Commodity Futures Trade Commission (CFTC) have issued a joint staff statement clearing the path of US registered exchanges to list and promote transactions in specific spot crypto assets products.
The statement shows that US regulators are ready to bring Spot Crypto into a registered exchange framework. Current laws note that no SEC or CFTC registered platforms prohibit listing such products if the requirements are met.
SEC Chairman Paul Atkins called the statement a major step towards bringing crypto innovation back to the United States. Acting CFTC Chairman Caroline Fam said it marked a turning point from past policies and coincided with efforts to make America the world’s crypto capital.
The trading and market (SEC) and market monitoring, liquidation and risk (CFTC) divisions have outlined several considerations for exchanges seeking to offer spot crypto products, including trade data margins, liquidation, settlements and public dissemination.
The initiative is based on recommendations from the SEC projects Crypto and CFTC’s Crypto Sprint, as well as the President’s Working Group on the Digital Asset Market.
Matthew Sigel, head of digital assets research at Vaneck, commented on the announcement, saying, “NYSE, NASDAQ, CBOE, CME and others will soon be offering spot deals such as BTC, ETH and more.”
The agency said it is ready to review filings from the National Stock Exchange (NSE), Designated Contract Markets (DCMS), and Foreign Trade Commission (FBOT), where staff are looking for a list of spot cryptographic products.
Please share this article
