The regulators of the US market took a coordinated step to encourage the growth of cryptography markets, issuing a statement of joint personnel on September 2 who said that registered exchanges are not prohibited by offering certain cryptography assets products.
The Bag and Securities Commission (SEC) and the Basic Products Future Trade Commission (CFTC) said the statement reflects the shared opinion of their personnel divisions that regulated platforms can facilitate basic products operations.
The agencies framed the movement as part of a broader impulse to expand the choice of the market and return the innovation of digital assets on land.
Coordinated regulatory effort
The president of the SEC, Paul Atkins, described the joint declaration as a milestone for the industry, highlighting the commitment of the agency to promote competition between commercial places.
The interim president of CFTC, Caroline D. Pham, positioned the announcement as a reversal of previous political uncertainty, linking it with the impulse of President Donald Trump to make the United States “the world cryptography of the world.”
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The effort derives from the ongoing initiatives: the “Crypto Project” of the SEC and the “Crypto Sprint” of the CFTC. Both programs aim to modernize regulatory frameworks, based on the recommendations of the president’s working group in digital asset markets.
A clear path
The trade and supervision divisions of the agencies said they would continue to participate with the stakeholders of the industry to address the concerns and evaluate possible products.
Registered exchanges is encouraged to approach personnel in any of the regulators to obtain guidance on compliance. The statement occurs when the CFTC prepares to restore the access of the United States for exchanges on the high seas after issuing a new orientation last month.
The joint declaration indicates that the SEC and CFTC intends to maintain open channels for dialogue and anticipate new actions to support the growth and development of US digital asset markets.