The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced a new joint program aimed at supporting the trading of select spot crypto asset products.
The initiative comes after years of disputes over whether certain digital assets should be classified as securities, a long-standing divide between the two regulators. Their joint statement signals a shift toward cooperation and builds on recent pro-crypto legislation, including the CLARITY Act, which seeks to establish clearer regulatory boundaries between the agencies.
New Initiative to Support Spot Crypto Trading
The SEC’s Division of Trading and Markets and the CFTC’s Divisions of Market Oversight and Clearing and Risk are joining forces to advance the SEC’s “Project Crypto” and the CFTC’s “Crypto Sprint” initiatives.
This coordinated effort will focus on providing regulatory guidance for the trading of leveraged, margined, or financed spot crypto asset products. By clarifying how these products can be offered legally and securely, the agencies aim to protect investors, strengthen market integrity, and give exchanges a clearer path to compliance.
In a joint staff statement, the agencies emphasized that current law does not prevent SEC- or CFTC-registered exchanges from offering certain spot crypto asset products. They also urged market participants to proactively engage with regulators to gain clarity on compliance standards, operational requirements, and necessary approvals.
SEC and CFTC Target Clearer Crypto Oversight
The collaboration marks a broader pro-crypto policy shift under the Trump administration, following the resignation of former SEC Chair Gary Gensler and the appointment of Paul Atkins in April.
The President’s Working Group on Digital Asset Markets has encouraged both agencies to use their existing authorities to create an environment that fosters blockchain innovation in the U.S.
CFTC Acting Chair Caroline Pham noted that the joint approach reflects a new commitment to reducing the regulatory uncertainty that has long burdened the crypto industry.
“Under the prior administration, our agencies sent mixed signals about regulation and compliance in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over,” said CFTC Acting Chairman Caroline D. Pham.
SEC Chair Paul Atkins praised the initiative as a pivotal step in revitalizing the U.S. crypto market, describing it as “an important step toward bringing innovation back to America’s crypto asset markets.”
The partnership builds on a year of efforts to narrow the divide between the SEC and CFTC over crypto oversight. In March, crypto.news reported that staff from both agencies had already begun exploring additional avenues for collaboration on digital asset regulation.
Lawmakers have also been pushing for unified frameworks. In 2024, Representative John Rose of Tennessee introduced the BRIDGE Digital Assets Act, which called for a joint SEC-CFTC framework and the creation of a committee of regulators and industry participants to develop consistent rules for the market.
After years of uncertainty, the latest joint initiative signals that U.S. regulators are prepared to deliver the regulatory clarity the crypto industry has long sought.
