For the first time, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have clarified that registered US exchanges are not barred from listing and trading certain spot cryptocurrency products.<\/p>\n
In a joint statement<\/a> released Tuesday, staff from the SEC\u2019s Division of Trading and Markets and the CFTC\u2019s Divisions of Market Oversight and Clearing and Risk said their view is that \u201cSEC- and CFTC-registered exchanges are not prohibited from facilitating the trading of certain spot commodity products.\u201d The applies to SEC-registered national securities exchanges (NSEs), CFTC-registered designated contract markets (DCMs), and foreign boards of trade (FBOTs).<\/p>\n SEC Chairman Paul Atkins said the move reflects a shift toward bringing cryptocurrency activity back onshore. \u201cMarket participants should have the freedom to choose where they trade spot cryptocurrency 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,\u201d he said.<\/p>\n The statement is linked to the SEC\u2019s Project Cryptocurrency and the CFTC\u2019s Cryptocurrency Sprint, both launched to expand oversight of digital assets. The effort also builds on recommendations from the President\u2019s Working Group on Digital Asset Markets. CFTC Acting Chair Caroline D. Pham began the Cryptocurrency Sprint last month, seeking public feedback on listing spot cryptocurrency contracts on DCMs.<\/p>\n Industry participants welcomed the development. \u201cThe joint statement from the SEC and CFTC today gives major US exchanges the green light to offer spot trading on leading digital assets,\u201d Alexander Blume, CEO of Two Prime Digital Assets, said in an email. \u201cThis opens the door for even more mainstream adoption, granting direct access to these commodity assets at venues where trillions of dollars already reside.\u201d<\/p>\n The statement makes a distinction between traditional exchanges and cryptocurrency-native platforms. Companies like Coinbase, Kraken, and Gemini already support spot trading for assets like Bitcoin and Ethereum, but they are not NSEs or DCMs, so they fall outside the same federal market structure as exchanges like Nasdaq or the New York Stock Exchange. Earlier this year, the SEC dropped lawsuits against several of those cryptocurrency platforms.<\/p>\n The joint statement also prompted reaction from traditional finance. \u201cThe NYSE, Nasdaq, CBOE, CME, etc, will soon have spot trading for BTC, ETH, and more,\u201d Matthew Sigel, head of digital assets research at VanEck, wrote on X.<\/p>\n The guidance comes as the Trump administration pushes to make the US a hub for cryptocurrency activity. Earlier this summer, President Trump signed a bill regulating stablecoins, the first cryptocurrency-specific legislation in the US Congress is also working on a broader cryptocurrency market structure bill.<\/p>\n Blume added that the development makes Bitcoin products easier to design and combine with existing offerings. Gerald Gallagher, general counsel for the Sei protocol, framed it as the end of a regulatory standoff. \u201cBottom line: The turf wars are ending. The SEC and CFTC are rowing in the same direction. The US just validated the importance of building high-performance cryptocurrency trading infrastructure,\u201d he posted on social media.<\/p>\n (Photo by Traxer<\/a>)<\/em><\/p>\n See also: Trump Media teams with Cryptocurrency.com in $100M CRO token deal<\/a><\/strong><\/p>\nPart of wider cryptocurrency efforts<\/h3>\n
Impact on exchanges<\/h3>\n
Broader policy push<\/h3>\n
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