SEC, CFTC Say U.S. Exchanges May List Spot Crypto Leveraged, Margined Products Under Existing Law
The SEC and CFTC's joint statement highlights regulatory clarity for spot crypto asset trading, aligning with efforts to expand market access and foster innovation in digital assets.
On September 2, 2025, the SEC and CFTC issued a joint statement affirming that U.S.-registered exchanges can facilitate trading of spot crypto products, including those involving leverage and margin. The agencies emphasized this as part of a broader effort to expand market choice and encourage digital asset innovation. SEC Chairman Paul Atkins and CFTC Acting Chairman Caroline D. Pham highlighted the alignment with President Trump's initiative to make the U.S. the 'crypto capital of the world.' The statement follows previous guidance from the President’s Working Group on Digital Asset Markets and aims to provide clarity for market participants.
- Spot crypto asset products: Digital assets traded for immediate delivery at current market prices, distinct from derivatives like futures or options.
- Project Crypto: An SEC initiative aimed at modernizing regulatory frameworks and processes for digital asset markets.
- Crypto Sprint: A CFTC program focused on accelerating updates to oversight and rules for digital asset markets.