U.S. Regulators Open Door for Spot Crypto Trading on Regulated Exchanges

Regulated exchange platforms can now conduct spot cryptocurrency trading activities, according to a joint statement by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on September 2, 2025. This policy shift marks a key regulatory step that could help drive crypto trading and promote investor protection.

Regulators Invite Dialogue on Spot Crypto Trading and Market Standards

In the Tuesday statement, both agencies clarified that existing law does not stop regulated exchanges—both on U.S. soil and abroad—from listing spot crypto products, including those with leverage and margin features. 

As the disclosure states, this included exchanges such as the national securities exchanges (NSEs), designated contract markets (DCMs), and foreign boards of trade (FBOTs). Regulators mentioned they are prepared to re-examine exchange filings and look into questions regarding ownership and clearing of crypto assets.

They further emphasized the need for new spot markets to adhere to regulatory standards. Meanwhile, investors and industry stakeholders were urged to contact the SEC or CFTC with questions and proposals.

Today, the Divisions provide their view that DCMs, FBOTs, and NSEs are not prohibited from facilitating the trading of certain spot crypto asset products. Market participants are invited to engage with SEC staff or CFTC staff, as needed.

SEC and CFTC joint statement

This move is part of the President’s Working Group on Digital Asset Markets’ efforts to improve clarity over digital assets and drive blockchain innovation. Acting CFTC Chair Caroline Pham maintained that the U.S. has moved past the “regulatory hesitation” era. She also called on the country to position itself as a leading nation in the crypto space.

Regulated Exchanges Set to Expand Spot Digital Asset Trading

Recently, the CFTC has taken a softer stance on crypto assets, including the approval of listed spot crypto contracts on a futures exchange in August. Crypto commentators believe these recent moves could help drive institutional adoption, as regulated exchanges provide improved security and oversight compared to offshore platforms.

The recent statement by the CFTC and SEC indicates that traditional finance bodies can join crypto exchanges such as Coinbase and Kraken to pursue spot trading options. As clarified by the staff guidance, top regulated platforms such as the New York Stock Exchange, Cboe Global Markets, CME Group, and Nasdaq, alongside other CFTC-recognized exchanges, can offer spot crypto trading products.

Under the current administration, lawmakers and the White House have laid the groundwork for clearer rules regarding crypto assets. Recent efforts by Congress include the Genius Act and CLARITY Act, alongside the President’s Working Group report. 

The recent regulatory headway could help exchanges meet the growing demand for crypto trading. At the same time, it signals the intention of regulatory bodies to allow for a transparent, secure, and improved crypto trading environment.