Regulators Signal U.S. Crypto Leadership Push Through Joint Clarity Move

U.S. regulators have taken a significant step toward legitimizing the domestic crypto market by jointly clarifying that registered exchanges are not prohibited from facilitating the trading of certain spot crypto asset products. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) issued a joint statement outlining how their regulatory frameworks support innovation and competition in the rapidly evolving digital asset markets. This move follows recommendations from the President’s Working Group on Digital Asset Markets, which called for regulatory clarity to keep blockchain innovation within the United States. The statement was described as a key milestone in the administration’s broader strategy to position the U.S. as the global leader in crypto technology and financial innovation [1].

The joint effort between the SEC and CFTC reflects a coordinated approach to streamline oversight and enable spot crypto trading. According to the statement, the agencies’ staff views indicate that national securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs) are not barred from listing spot crypto products, including those with leverage or margin features, provided they meet investor protection and operational standards. The statement emphasized that exchanges must collaborate with custodians, ensure clear reference pricing, and commit to public dissemination of trade data to enhance transparency and surveillance capabilities. Regulators also indicated a willingness to engage with market participants to address concerns and support the development of new spot markets [1].

This regulatory clarification opens the door for major financial venues, including Nasdaq, the New York Stock Exchange, CME Group, and Cboe Global Markets, to potentially list spot crypto products, provided they seek the necessary approvals. While crypto-native platforms such as Coinbase and Kraken already offer spot trading, the new guidance signals that traditional financial institutions are no longer excluded from this market. SEC Chairman Paul Atkins underscored that the statement aims to give market participants the freedom to choose where they trade spot crypto assets. CFTC Acting Chairman Caroline Pham added that the joint effort demonstrates a shared objective of fostering growth and innovation in digital asset markets [1].

The statement also builds on recent legislative and policy developments, including the House passage of the CLARITY Act, a market structure bill for cryptocurrencies, and the release of the President’s Working Group report on digital asset markets. The report explicitly urged regulators to provide clarity that supports innovation within the U.S. and called for greater coordination between the SEC and CFTC. The joint staff statement aligns with the broader policy agenda of the Trump administration, which has emphasized a pro-crypto stance, including the appointment of industry-friendly regulators and the promotion of blockchain innovation. This shift marks a departure from the previous administration’s more cautious and fragmented approach to digital asset regulation [3].

Market participants are now invited to engage with the SEC or CFTC to address specific questions about custody, clearing, or operational compliance. Regulators have indicated they are prepared to review exchange filings and ensure that new spot markets meet established standards for transparency, surveillance, and investor protection. The guidance is part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, both of which aim to modernize regulatory approaches to digital assets. Analysts have noted that the statement represents a foundational step in the ongoing effort to integrate crypto into the broader financial system, though further legislative action remains pending in Congress [4].

Source:

[1] SEC and CFTC Staff Issue Joint Statement On Trading ... (https://www.sec.gov/newsroom/press-releases/2025-110-sec-cftc-staff-issue-joint-statement-trading-certain-spot-crypto-asset-products)

[2] Commodity Futures Trading Commission | CFTC (https://www.cftc.gov/)

[3] US Regulators Clarify Rules for Spot Crypto Trading (https://cointelegraph.com/news/us-sec-cftc-joint-guidance-spot-crypto-trading)

[4] 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)

[5] U.S. Regulators Clarify Rules for Spot Crypto Trading (https://unchainedcrypto.com/u-s-regulators-clarify-rules-for-spot-crypto-trading/)