TLDR
- The SEC and CFTC issued a joint statement allowing registered exchanges to trade spot crypto assets with regulatory approval
- Traditional exchanges like Nasdaq, NYSE, and CME Group can now list spot crypto products under existing regulations
- This represents a major policy shift under the Trump administration’s pro-crypto stance
- Regulators are coordinating through “Project Crypto” and “crypto sprint” initiatives to establish the US as a leading crypto hub
- The move comes while Congress works on comprehensive crypto legislation including the CLARITY Act
The Securities and Exchange Commission and Commodity Futures Trading Commission announced Tuesday that registered exchanges can now facilitate spot cryptocurrency trading. The joint statement marks a major shift in US crypto policy under the Trump administration.
The agencies clarified that existing regulations do not prevent national securities exchanges, designated contract markets, and foreign boards of trade from listing spot crypto products. This includes products with leverage and margin features.
JUST IN: SEC and CFTC "to facilitate the trading of certain spot crypto asset products on registered exchanges" 🙌
Bullish! 🐂 pic.twitter.com/6kfN7wJJ3p
— Bitcoin Magazine (@BitcoinMagazine) September 2, 2025
SEC Chairman Paul Atkins said market participants should have freedom to choose where they trade spot crypto assets. CFTC Acting Chairman Caroline Pham called the statement a demonstration of their mutual objective to support market growth and development.
The guidance opens doors for major traditional finance venues to enter crypto markets. Nasdaq, the New York Stock Exchange, CME Group, and Cboe Global Markets may now be eligible to list spot crypto products. Foreign boards of trade recognized by the CFTC also qualify under the new guidance.
While crypto exchanges like Coinbase and Kraken already offer spot trading, the statement signals that traditional venues are not barred from similar offerings. The agencies are prepared to engage with trading venues about applying fair and orderly market principles.
Regulatory Coordination Efforts
The SEC’s “Project Crypto” and CFTC’s “crypto sprint” initiatives are driving this coordination effort. Both programs aim to meet President Trump’s orders to establish the US as the world’s leading crypto hub.
The statement represents a stark departure from previous administration policies. The SEC was previously run by crypto skeptic Gary Gensler until last year. The Trump-appointed regulators have quickly moved to create pathways for digital assets within existing financial systems.
Regulators said they are ready to review exchange filings and address questions about custody and clearing requirements. They emphasized ensuring new spot markets meet standards for transparency, surveillance, and investor protection.
Legislative Context
Congress has been working on comprehensive crypto market legislation that the industry expects will fully establish crypto in the US. The House passed the CLARITY Act in July, a market structure bill for cryptocurrencies now under Senate consideration.
The timing remains unclear for when lawmakers might deliver final legislation to Trump’s desk. The joint regulatory statement appears designed to provide immediate clarity while Congress continues its work.
In July, the President’s Working Group on Digital Asset Markets released a report urging regulatory clarity. The report specifically called for SEC and CFTC coordination on spot crypto trading to keep blockchain innovation within the United States.
One major gap in previous US crypto oversight was the CFTC’s limited authority over crypto commodity spot markets. The new coordination effort aims to address regulatory holes where actual crypto assets change hands directly.
The Tuesday statement did not specify which cryptocurrencies qualify as “certain spot crypto asset products.” Market participants must contact agency staff to determine eligibility for specific assets and trading structures.
