A joint statement released on September 2, 2025 at 22:01 UTC detailed a new collaborative initiative between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. Under the initiative, SEC-registered national securities exchanges and CFTC-registered designated contract markets will be cleared to facilitate retail trading of specified spot crypto asset products.
The statement confirmed that existing regulatory structures under “Project Crypto” at the SEC and the CFTC’s ongoing “crypto sprint” can accommodate spot digital-asset trading without additional legislation. Both agencies invited interested trading platforms to engage directly with their staff to establish operational guidelines and ensure compliance with fair and orderly market principles.
SEC Chairman Paul Atkins emphasized that the move represents a shift toward a more innovation-friendly regulatory environment, enabling market participants to choose between venues while maintaining investor protections. CFTC Acting Chairman Caroline Pham described the effort as a “demonstration of mutual objectives” to promote growth and resilience in digital-asset markets.
Industry observers noted that the combined approach could accelerate institutional participation and deepen liquidity in spot trading, potentially narrowing the gap between U.S. markets and global competitors. However, some stakeholders cautioned that details around custody, settlement finality, and margin requirements will remain critical to sustaining market integrity as the initiative unfolds.
This joint action precedes pending Congressional crypto market-structure legislation and reflects the agencies’ intent to harness existing authorities to integrate digital assets into regulated exchanges swiftly. Market participants are now assessing how the coordination will affect product development, listing standards, and operational workflows, with many expecting formal guidance to follow in the coming weeks.
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