Bitcoin News Today: Regulators Unify Crypto Rules to Boost U.S. Competitiveness

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are aligning their regulatory frameworks to foster innovation in the cryptocurrency market, marking a departure from the fragmented oversight that previously hindered market growth. In a joint statement, SEC Chair Paul S. Atkins and CFTC Acting Chair Caroline D. Pham outlined plans to harmonize regulatory definitions, streamline reporting standards, and develop coordinated innovation exemptions. These measures aim to reduce jurisdictional overlap and create a unified approach to overseeing crypto assets, which have historically been subject to conflicting interpretations as either securities or commodities.

A key focus of the initiative is enabling top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to trade on major U.S. exchanges such as Nasdaq and the New York Stock Exchange. This shift comes as the agencies acknowledge that registered exchanges are not legally prohibited from offering certain spot commodity products involving crypto assets. The move is expected to enhance market efficiency, attract institutional participation, and bring greater liquidity to digital assets in the U.S., which have traditionally traded in offshore markets.

The joint effort also highlights the importance of addressing structural inefficiencies in capital and margin frameworks. For instance, the agencies plan to explore harmonizing portfolio margining requirements, which could reduce the need for duplicate collateral postings across SEC and CFTC-regulated platforms. Such changes are anticipated to free up balance sheet capacity for market participants, lower costs for carrying hedged positions, and encourage cross-market participation. Additionally, the agencies are considering facilitating the onshoring of perpetual contracts, which are common in offshore markets but limited in the U.S. due to jurisdictional constraints.

The regulatory shift extends to decentralized finance (DeFi) and innovation exemptions. Both agencies have committed to exploring safe harbors that would allow peer-to-peer trading of spot and derivative crypto assets over DeFi protocols. This approach seeks to align with the growing adoption of decentralized systems while ensuring investor protections remain intact. The agencies emphasized that self-custody of assets, a core principle in crypto, remains viable under current federal law.

Looking ahead, the SEC and CFTC have scheduled a joint roundtable on regulatory harmonization for September 29, 2025, to discuss further implementation of these frameworks. The agenda will include topics such as expanding trading hours for 24/7 markets, addressing the regulatory status of event contracts in prediction markets, and streamlining data and reporting standards. These discussions are intended to establish a clear regulatory playbook for innovators and investors, reinforcing the U.S.’s competitiveness in the global crypto landscape.

Industry observers note that the shift reflects a broader trend of regulatory modernization under the Trump administration, contrasting with the more enforcement-focused policies of the previous administration. The new approach is expected to reduce legal uncertainty and encourage the development of novel financial products. However, challenges remain, particularly for smaller firms navigating the compliance landscape. While the SEC’s focus on reducing bureaucratic hurdles is welcomed, some stakeholders caution that the evolving regulatory environment could still favor larger, well-resourced entities.

Source: [1] Joint Statement from the Chairman of the SEC and Acting Chairman of the CFTC (https://www.sec.gov/newsroom/speeches-statements/joint-statement-atkins-pham-090525) [2] SEC Chair Atkins Announces Sweeping Changes To Crypto Oversight (https://yellow.com/news/sec-chair-atkins-announces-sweeping-changes-to-crypto-oversight) [3] SEC, CFTC Clear Path for BTC, ETH and Top Cryptos on U.S. Exchanges (https://www.ccn.com/news/crypto/sec-cftc-btc-eth-top-crypto-us-exchanges/) [4] How Will SEC's Crypto Regulations Change the Landscape? (https://www.onesafe.io/blog/sec-crypto-regulations-implications)