The regulators of the American market have taken a coordinated measure to encourage the growth of cryptographic markets, issuing a joint press release on September 2 which confirmed the registered exchanges are not prohibited from offering certain cryptographic asset products.
SECURITIES AND EXCHANGE Commission (SEC) and the Commodity Futures Trading Commission (CFTC) said that the press release reflects the shared point of view of their personnel divisions that regulated platforms can facilitate basic product transactions.
The agencies have developed this decision as part of a wider thrust to extend the choice of the market and bring the innovation of digital assets to the ground.
Coordinated regulatory effort
The president of the SEC, Paul Atkins, described the joint milestone declaration for industry, highlighting the agency’s commitment to promote competition between commercial places.
The acting president of the CFTC, Caroline D. Pham, positioned the announcement as a reversal of the uncertainty of previous policy, binding it to the push of President Donald Trump to make the United States “the world capital of cryptography”.
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The effort stems from current initiatives: the “crypto” of the SEC and the “Sprint Crypto” of the CFTC. The two programs aim to modernize regulatory executives, based on the recommendations of the president’s working group on the digital asset markets.
A clear route
The trading and monitoring of the agency market divisions said they would continue to engage with industry stakeholders to respond to concerns and assess potential products.
The exchanges recorded are encouraged to approach the staff of one or the other regulator to obtain advice on compliance. The declaration comes as the CFTC is preparing to restore access to offshore exchanges after issuing new advice last month.
The joint declaration indicates that the SEC and the CFTC intends to maintain open channels for dialogue and to anticipate other actions to support the growth and development of the American digital assets.
