The Key Takeaways
Spot crypto trading will be expanded by SEC-CFTC guidance.
SEC and CFTC, two U.S. regulatory agencies have issued a landmark joint statement stating that existing laws don’t prohibit exchanges to list certain crypto spot trading.
Source: X
The guide is part of it read,
“The Divisions’ coordination will promote trading venue choice and optionality for market participants within the United States.”
Citing the PWG report on President’s Working Group on Digital Assets Markets, Regulators announced they are ready to support securities exchanges to add crypto assets to trading platforms.
“In line with these goals, the Divisions stand ready to support consideration by their respective agencies of exchange trading in certain spot crypto asset products.”
Is spot crypto trading going mainstream?
The joint guidance for crypto leaders and analysts will bring crypto to the mainstream.
Nate Geraci of ETF analysts Nate Geraci says that the regulators gave their green light. meant After that, crypto trading should be soon available at top-tier global exchanges as well as traditional brokerages.
“Main takeaway? Crypto trading going mainstream. Will be on world’s largest venues. Think NYSE, Nasdaq, etc. Next stop after that? Every major traditional brokerage.”
The same position was taken by the other side echoed Matthew Sigel, Director of VanEck’s digital asset research, notes that Bitcoin [BTC], Ethereum [ETH]Other items will also be traded on traditional exchanges.
Source: X
You can also find out more about the following: Sei’s [SEI] Gerald Gallagher is the General Counsel and he has an update signaled an end to the ‘turf wars’ between the two regulators.
“The turf wars are ending. The SEC & CFTC are rowing in the same direction. The U.S. just validated the importance of building high-performance crypto trading infrastructure.”
According to CFTC’s Acting Chairman Caroline PhamThe move allows users to freely trade cryptocurrency wherever they want, however and whenever they like, on secure exchanges that are registered.
The two regulators have also launched a joint initiative to implement the recommendations of the President’s Working Group on Digital Assets Markets. Project Crypto The following are some examples of how to get started: Crypto Sprint.
The initiatives are aimed at providing greater clarity in the regulatory framework and fostering a transparent environment for digital assets.
Donald Trump was elected President of the United States in June. signed The GENIUS Act – a stablecoin legislation – was signed into law by President Obama, marking the first time that a major crypto bill has reached such a landmark.
The Biden Administration reversed several enforcement measures. This move is part of former President Trump’s broader push to position the United States as the global ‘crypto capital.’
Experts warn, however, that despite the momentum generated, the bill on crypto-market structure may face resistance from the Senate.
Trump’s conflict of interest in the crypto industry, they say, could make it difficult for bipartisan support.
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Source: ambcrypto.com
