Staff from two U.S. financial agencies issued a joint
statement yesterday (Tuesday). The statement came from the Securities and
Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The statement clarifies the staff’s view on trading specific
crypto products. It notes that exchanges registered with the SEC or CFTC are
not banned from facilitating trades in certain spot commodity products,
including some crypto assets.
By contrast, UK regulators have taken a more cautious
approach. Retail access to spot crypto trading remains limited, and no
comprehensive framework exists for mainstream exchange listings, although the
FCA is proposing to lift the ban on crypto exchange-traded notes.
Industry Reaction
Commenting on the announcement, Zumo’s Founder and CEO Nick
Jones said: “It’s only right that market participants have the freedom to
choose where they trade spot crypto assets – and now they will have access to
some of the world’s largest venues, such as the NYSE and Nasdaq.”
He added: “It’s yet another example of the US deliberately
and proactively embedding crypto in the mainstream while cementing its
leadership in an industry that will come to redefine financial services.”
Jones contrasted the U.S. approach with other major
economies: “While UK legislators and regulators shy around taking any proactive
crypto position, it’s a reminder that those unashamed to demonstrate pro-crypto
leadership are cornering this emerging area of innovation and growth.”
Legal Perspective
Legal experts remain cautious about the statement’s
implications. Bill Morgan, a digital asset lawyer, questioned its practical
impact: “How does this help crypto exchanges? They’re all pretty much still
unregulated and not registered with the SEC despite the end of the SEC
lawsuits. Not sure but maybe Coinbase has some trading activities registered
with the CFTC.”
How does this help crypto exchanges? They’re all pretty much still unregulated and not registered with the SEC despite the end of the SEC lawsuits. Not sure but maybe Coinbase has some trading activities registered with the CFTC https://t.co/siRNb2Rr0L
— bill morgan (@Belisarius2020) September 2, 2025
Market Outlook
Matthew Sigel, VanEck’s head of digital assets research,
stated on X: “The NYSE, Nasdaq, CBOE, CME, etc, will soon have spot trading for
BTC, ETH, and more.” The comment reflects expectations that major U.S.
exchanges could offer spot trading for leading cryptocurrencies.
🚨 The NYSE, Nasdaq, CBOE, CME, etc, will soon have spot trading for BTC, ETH, and more. https://t.co/qZo3YsYDQA
— matthew sigel, recovering CFA (@matthew_sigel) September 2, 2025
Regulatory Leadership Comments
SEC Chairman Paul Atkins described the statement as a
“significant step,” noting: “Market participants should have the freedom to
choose where they trade spot crypto assets.”
CFTC Acting Chairman Caroline D. Pham said the previous
administration sent mixed signals on digital asset regulation: “Today’s joint
agency statement is the latest demonstration of our mutual objective of
supporting growth and development in these markets, but it will not be the
last.”
This article was written by Tareq Sikder at www.financemagnates.com.
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