U.S. financial regulators pave the way for domestic cryptocurrency trading exchanges to commence spot trading operations
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint statement clarifying that registered US exchanges are not barred from listing and trading certain spot cryptocurrency products. This development is set to make Bitcoin products easier to design and combine with existing offerings.
The joint statement, linked to the SEC's Project Cryptocurrency and the CFTC's Cryptocurrency Sprint, aims to expand oversight of digital assets. Major US exchanges like the New York Stock Exchange (NYSE) and Nasdaq, along with the CBOE and CME, may soon offer spot trading for Bitcoin (BTC) and Ethereum (ETH).
Industry participants have welcomed the development. Alexander Blume, CEO of Two Prime Digital Assets, stated that the joint statement gives major US exchanges the green light to offer spot trading on leading digital assets. Matthew Sigel, head of digital assets research at VanEck, also expressed his views, stating that the development validates the importance of building high-performance cryptocurrency trading infrastructure.
The Trump administration is pushing to make the US a hub for cryptocurrency activity, and this move is linked to the first cryptocurrency-specific legislation in the US Congress. The US Congress is also working on a broader cryptocurrency market structure bill.
The joint statement applies to SEC-registered national securities exchanges (NSEs), CFTC-registered designated contract markets (DCMs), and foreign boards of trade (FBOTs). The CFTC Acting Chair, Caroline D. Pham, began the Cryptocurrency Sprint last month, seeking public feedback on listing spot cryptocurrency contracts on DCMs.
The effort also builds on recommendations from the President's Working Group on Digital Asset Markets. Gerald Gallagher, general counsel for the Sei protocol, framed the development as the end of a regulatory standoff.
Muhammad Zulhusni, a tech journalist specializing in cloud computing, cybersecurity, and disruptive technology in the enterprise industry, has been reporting on this development. However, the search results do not provide specific names or identities of industry representatives who have positively commented on the development of free tradability of cryptocurrencies on registered US exchanges.
The development reflects a shift towards bringing cryptocurrency activity back onshore, as the SEC and CFTC are now rowing in the same direction regarding cryptocurrency regulation. This could potentially attract more cryptocurrency businesses to operate within the US, contributing to the growth of the cryptocurrency market.
