U.S. Regulators Align Crypto Rules, Spark Global Market Shift

The U.S. regulatory landscape for cryptocurrency has seen significant progress in 2025, with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly clarifying their positions on the trading of certain crypto assets on registered platforms. In a collaborative move, the two agencies affirmed that designated contract markets and national securities exchanges are not prohibited from facilitating the trading of specific spot crypto assets, provided they obtain approval and guidance from the respective regulators [1]. This development marks a pivotal shift in regulatory strategy, as agencies under the Trump administration—led by crypto-friendly leaders—move swiftly to align the U.S. with global crypto innovation trends.

This joint effort is part of broader initiatives under "Project Crypto" by the SEC and the "crypto sprint" by the CFTC. These programs aim to position the United States as a leading global hub for digital assets, in line with Trump's policy directives [1]. The agencies emphasized that market participants should have the freedom to choose where they trade spot crypto assets, a statement echoing their commitment to fostering a competitive and transparent market environment. Both agencies have indicated their readiness to engage with trading platforms on applying fair and orderly market principles as they expand the legal framework for digital asset trading [1].

Complementing these regulatory efforts, Congress passed the GENIUS Act in July 2025, a landmark piece of legislation that introduces clear federal rules for stablecoin issuance [2]. The law mandates that stablecoins must be fully backed by reserves, undergo monthly audits, and comply with anti–money laundering standards. This framework limits stablecoin issuance to approved entities and aims to build consumer trust by ensuring the stability and reliability of these digital assets. In parallel, the CLARITY Act, passed by the House in 2025, seeks to clarify how digital assets are treated under federal securities and commodities laws, with the intent to reduce regulatory overlap and increase transparency [2].

The evolving U.S. regulatory approach to cryptocurrency has also addressed concerns over central bank digital currencies (CBDCs). The Anti-CBDC Surveillance State Act, which passed the House in July 2025, aims to prevent the Federal Reserve from issuing a retail CBDC without explicit congressional approval [2]. This legislation reflects growing concerns about government overreach and the potential for a state-controlled digital banking system. Unlike China, which has already begun public CBDC pilot programs, the U.S. has opted to limit the government’s role in digital currency issuance, favoring private-sector-led innovation in digital payment systems [2].

Internationally, the regulatory environment for cryptocurrencies varies significantly, with countries like Canada, the United Kingdom, and Singapore adopting structured yet flexible frameworks. In contrast, China maintains a strict stance, having banned crypto exchanges and mining operations while advancing its digital yuan. As the global regulatory landscape continues to mature, the U.S. approach—marked by federal coordination and a balance between innovation and oversight—could influence broader international practices. However, participants in the crypto sector must remain vigilant, as evolving regulations can impact market access, innovation, and operational costs.

Source:

[1] U.S. SEC, CFTC Combine Forces to Clear Registered ... (https://www.coindesk.com/policy/2025/09/02/u-s-sec-cftc-combine-forces-to-clear-registered-firms-trading-of-spot-crypto)

[2] Cryptocurrency Regulation: A Guide to U.S. & Global Policies (https://www.britannica.com/money/cryptocurrency-regulation)