Overview

• A joint SEC–CFTC staff statement clarifies that SEC- and CFTC-registered venues, including national securities exchanges, designated contract markets and foreign boards of trade, are not barred by existing law from facilitating trading of certain spot crypto commodity products.
• The scope focuses on products tied to leverage, margin and financed spot retail commodity transactions, and the statement does not name specific digital assets eligible for listing.
• Regulators outlined market-integrity expectations covering custody and clearing arrangements, margin and settlement practices, public trade data reporting, and cross-venue surveillance and information sharing.
• Staff invited market participants to engage and said they stand ready to review exchange filings, with further work expected under the SEC’s Project Crypto, the CFTC’s Crypto Sprint and recommendations from the President’s Working Group.
• Industry reaction highlighted potential exploration of spot listings by major venues such as NYSE, Nasdaq, Cboe and CME, while legal commentators stressed the guidance is non-binding and that key questions on asset eligibility and oversight remain.