Key Takeaways
- The statement confirmed that U.S. law does not prohibit registered venues from listing spot digital asset products
- National securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs) recognised by U.S. regulators may list spot crypto offerings, including those with leverage and margin features.
In a significant development, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) released a joint staff statement on Tuesday outlining a coordinated framework for overseeing spot crypto trading in the United States.
The statement confirmed that U.S. law does not prohibit registered venues from listing spot digital asset products. National securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs) recognised by U.S. regulators may list spot crypto offerings, including those with leverage and margin features, it added.
SEC and CFTC staff indicated that registration applications will receive expedited reviews. Proposals from platforms such as CME Group, Nasdaq, the New York Stock Exchange, Cboe Global Markets, and approved foreign boards of trade could now be considered for entry into the market. Regulators also said they will review questions on custody, clearing, and compliance with standards on transparency, surveillance, and investor protection.
SEC Chairman Paul Atkins described the step as significant for domestic innovation. “Today’s joint statement is an important step in bringing digital asset markets back to the U.S.,” Atkins said, emphasizing the need to balance oversight with market flexibility.
CFTC Acting Chair Caroline D. Pham launched the “Crypto Sprint” earlier this year to gather public input on whether DCMs should be permitted to list spot contracts. The SEC has been running a parallel initiative, “Project Crypto,” that aligns with the same goals.
Although exchanges like Coinbase and Kraken already provide spot crypto trading, the announcement offers more clarity that large regulated venues are not barred from offering comparable products if they choose to seek approval.
The SEC and CFTC invited market participants to engage directly with their staff on proposals, filings, and compliance requirements. The latest development follows the US President’s Working Group on Digital Asset Markets recommendations, calling for “regulatory clarity that best keeps blockchain-based innovation within the United States”.
