BREAKING: SEC and CFTC Make a Bullish Announcement for Cryptocurrencies

Officials from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint statement regarding the trading of certain spot crypto asset products. The statement clarified that SEC- and CFTC-registered exchanges are not prohibited from facilitating trading in these products. It added that this move is intended to provide market participants with more trading options and strengthen coordination among regulatory bodies. SEC Chairman Paul Atkins said in a statement, “Today’s joint statement is an important step toward bringing innovation back to America in cryptoasset markets. Market participants should be able to freely choose where to buy and sell spot crypto assets. The SEC is committed to working with the CFTC to develop a regulatory framework that fosters innovation and competition.” Related News: BREAKING: SEC and CFTC Make a Bullish Announcement for Cryptocurrencies CFTC Interim Chair Caroline D. Pham said, “During the previous administration, our agencies sent conflicting messages about regulation and compliance in digital asset markets. The message was clear: Innovation was not welcome. That era is over. Working together now, we can strengthen American innovation and build on President Trump's collaborative approach to making America the crypto capital. This joint statement demonstrates our shared goal of fostering growth and development, but it will not be the last.” The SEC's Division of Trading and Markets and the CFTC's Divisions of Market Oversight and Clearing and Risk are coordinating efforts to facilitate trading of certain spot cryptoasset products on registered exchanges. This initiative is part of the SEC's “Project Crypto” and the CFTC's “Crypto Sprint” programs and is based on the Chairman's Digital Asset Markets Task Force's report, “Strengthening American Leadership in Digital Financial Technology.” Departments of both institutions announced their readiness to interact with market participants and provide the necessary support during the process of trading these products on exchanges. *This is not investment advice. Continue Reading: BREAKING: SEC and CFTC Make a Bullish Announcement for Cryptocurrencies