Yesterday the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) issued a joint statement regarding the trading of spot cryptocurrencies. They said, “current law does not prohibit SEC- or CFTC-registered exchanges from facilitating trading of these spot crypto asset products.”
The statement highlights that current laws require that certain “retail commodity transactions” must be executed on a CFTC-regulated venue, unless it is a National Securities Exchange (NSE).
“Today’s joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America,” said SEC Chairman Paul Atkins. “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.”
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