Staff from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a Joint Statement today, clarifying their shared view that SEC- and CFTC-registered exchanges are not prohibited from facilitating the trading of certain spot crypto asset products. This collaborative effort highlights the agencies' ability to coordinate in promoting a wider choice of trading venues and greater optionality for market participants.
SEC Chairman Paul Atkins lauded the joint staff statement as "a significant step forward in bringing innovation in the crypto asset markets back to America." He underscored the importance of market participants having the freedom to choose where they trade spot crypto assets and affirmed the SEC's commitment to collaborating with the CFTC to ensure their regulatory frameworks support innovation and competition within these rapidly evolving markets.
CFTC Acting Chairman Caroline D. Pham added that the "chapter is over" on previous administrations' mixed signals on digital asset market regulation and compliance, which she noted had deterred innovation. Pham emphasized that through their joint efforts, they can "empower American innovation" and build upon President Trump’s collaborative approach aimed at establishing America as the world's crypto capital. She stated that today's joint agency statement represents the latest demonstration of their mutual objective to foster growth and development in these markets, and it will not be the last.
This coordinated initiative involves the SEC’s Division of Trading and Markets and the CFTC’s Division of Market Oversight and Division of Clearing and Risk (collectively, the “Divisions”). It constitutes a key component of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, further building on the recommendations presented in the President’s Working Group on Digital Asset Markets report, "Strengthening American Leadership in Digital Financial Technology."
The Divisions have expressed their readiness to engage with market participants and support their respective agencies' consideration of exchange trading for certain spot crypto asset products. Market participants are encouraged to contact SEC or CFTC staff, as necessary, to discuss any questions or concerns.