Financial regulators in the United States have issued a new statement explaining how licensed exchanges can offer spot crypto trading.
In a joint release, staff from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) said that regulated trading platforms, both domestic and certain international ones, may offer spot crypto products under current laws.
This update aims to provide more clarity for exchanges such as national securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs).
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The statement emphasizes that these activities are not restricted, as long as the platforms follow established rules and remain in touch with the agencies.
The joint note explained that exchange operators are encouraged to reach out to SEC or CFTC staff for assistance or to ask questions. The agencies also stated that they are prepared to review exchange applications, address concerns regarding custody and trade clearing.
They also ensure that new spot offerings meet standards for transparency, market surveillance, and customer protection.
Under this framework, platforms such as the New York Stock Exchange, Nasdaq, CME Group, and Cboe Global Markets, as well as some CFTC-recognized foreign trading boards, may qualify to list spot crypto products. The agencies recommend that these platforms speak directly with regulatory staff before launching any crypto-related services.
Recently, the CFTC introduced a new set of rules for foreign commodity exchanges. What do the rules include? Read the full story.
