SEC, CFTC to permit crypto spot trading on registered exchanges

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced a joint collaboration to permit spot trading of certain cryptocurrencies on registered exchanges. In a press release, the two agencies stated they are developing consumer protection guidelines for spot trading, including rules on leverage and margin. They are also preparing the legal and institutional framework to facilitate these transactions. The agencies clarified in a joint statement that current law does not prohibit registered exchanges from handling certain spot crypto assets.