The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint staff statement on Tuesday announcing a coordinated effort to handle and enable Crypto Trading spot in the United States.
The agencies Delivered That existing law does not prevent the US regulated or foreign exchanges, including national security exchanges (NSE), designated contract markets (DCMs) and foreign trade boards (FBOT) from the list of crypto products, including features and margin features.
The step complies with the president’s working group on the recommendations in the digital asset market, urging regulators to provide clarity and keep the blockchain change within the United States.
“Today, divisions provide their views that DCMs, fbots, and NSE do not prohibit the trading of certain crypto asset products.
Regulators say they are willing to review the exchange of exchanges, address caution and career questions, and ensure that new market areas meet standards for transparency, monitoring, and investor protection. Market participants were invited to contact the SEC or CFTC with proposals and questions.
What does the Sec -Cftc statement mean for the Crypto spot trading
While crypto exchanges such as Coinbase and Kraken offered spot trading, the statement signaled that traditional financial areas are not prohibited from listing similar products if they choose to continue them.
So far, the move reflects the views of SEC and CFTC staff only and does not change the existing law.
This is a story development, and further information will be added as it is available.
