On 2 September 2025, staff of the United States Commodity Futures Trading Commission (US CFTC) and the United States Securities and Exchange Commission (US SEC) issued a joint statement confirming that exchanges registered with either regulator are not prohibited from facilitating the trading of certain spot crypto asset products. This is a coordinated regulatory approach designed to enhance trading venue choice and strengthen market confidence in the United States.
Agency Leaders Signal Pro-Innovation Shift
US CFTC Acting Chairman Caroline D. Pham stressed that the joint statement represents a break from the inconsistent approach of prior administrations. She said: “Under the prior administration, our agencies sent mixed signals about regulation and compliance in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over. By working together, we can empower American innovation in these markets and build on President Trump’s collaborative approach to making America the crypto capital of the world.”
US SEC Chairman Paul S. Atkins emphasised market choice and competition, noting: “Today’s joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America. Market participants should have the freedom to choose where they trade spot crypto assets. The SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets.”
Integration of Project Crypto and the Crypto Sprint
The initiative is coordinated by the SEC’s Division of Trading and Markets and the CFTC’s Divisions of Market Oversight and Clearing and Risk. It forms part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, both designed to establish regulatory clarity and facilitate responsible growth of digital asset markets. The joint statement also builds on the recommendations of the President’s Working Group on Digital Asset Markets report, Strengthening American Leadership in Digital Financial Technology, which called for regulators to use existing powers to encourage blockchain innovation within the United States.
(Source: https://www.cftc.gov/PressRoom/SpeechesTestimony/cftcsecjointcryptostatement090225)
