Key Takeaways
The joint guidance by the SEC and CFTC will expand spot crypto trading across traditional exchanges and brokerages.
In a historic move, the U.S. regulators SEC and CFTC issued a joint statement noting that current laws don’t prevent exchanges from listing certain spot crypto trading.
Source: X
Part of the guidance read,
Regulators, referencing the President’s Working Group on Digital Assets Markets (PWG) report, announced their readiness to assist securities exchanges in adding certain crypto assets to their trading platforms.
Is spot crypto trading going mainstream?
For crypto leaders and analysts, the joint guidance will make crypto mainstream.
According to ETF analyst Nate Geraci, the regulators’ greenlight meant that crypto trading will soon be available in top global exchanges and traditional brokerages afterward.
A similar stance was echoed by Matthew Sigel, Head of digital assets research at VanEck, noting that Bitcoin [BTC], Ethereum [ETH], and others will be traded in traditional exchanges.
Source: X
For Sei’s [SEI] General Counsel, Gerald Gallagher, the update signaled an end to the ‘turf wars’ between the two regulators.
According to CFTC Acting Chairman Caroline Pham, the move will empower users to trade cryptocurrencies freely, wherever and however they choose, through secure, registered exchanges.
In addition, as part of implementing the recommendations from the President’s Working Group on Digital Assets Markets (PWG), the two regulatory bodies have launched Project Crypto and Crypto Sprint.
These initiatives aim to provide greater regulatory clarity and foster a more transparent framework for the digital asset sector.
In June, President Donald Trump signed the stablecoin bill, the GENIUS Act, into law, making it the first major crypto legislation to hit such a milestone.
Several enforcement actions introduced during the Biden administration have now been reversed. This move is part of former President Trump’s broader push to position the United States as the global ‘crypto capital.’
However, despite this momentum, experts warn that the crypto market structure bill may encounter resistance in the Senate.
One key concern they cite is Trump’s potential conflict of interest within the crypto sector, which could complicate bipartisan support.
Source: https://ambcrypto.com/crypto-going-mainstream-why-sec-cftcs-statement-sparked-hype/
