New Pro-Crypto Plan Unveiled By SEC And CFTC: Could Traditional Markets Go 24/7?

On Friday the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) unveiled a new joint initiative aimed at fostering a more robust regulatory environment for the crypto ￰0￱ to this initiative is a bold proposal to enable traditional financial markets to operate around the clock a move designed to align with the digital asset ￰1￱ Approach To Crypto Regulation In their announcement the SEC and CFTC emphasized that the crypto market necessitates a collaborative approach

particularly in the wake of their previous joint statement addressing the trading of certain spot crypto asset ￰2￱ the key proposals discussed is the possibility of extending trading hours for various asset ￰3￱ SEC and CFTC acknowledged that certain markets such as foreign crypto exchanges and commodities already function ￰4￱ significant topic that was addressed was the growth of prediction markets and the increasing demand for event ￰5￱ platforms like Kalshi and Polymarket have fueled the growth of these markets worldwide and the agencies aim to provide the guidance they need to responsibly list such contracts in the ￰6￱ recently reported that

after facing significant restrictions in 2022 Polymarket has been granted permission to resume providing its services to American clients after a three-year ￰7￱ Roundtable Scheduled The discussion also touched on the potential for onshoring perpetual contracts which are commonly used in offshore crypto ￰8￱ working together the SEC and CFTC hope to establish a framework that allows these contracts to be traded within regulated ￰9￱ agencies also reaffirmed their willingness to explore “innovation exemptions” that would facilitate peer-to-peer trading in decentralized finance (DeFi) ￰10￱ regulators assert that such exemptions could foster a safer environment for market participants while allowing them to engage in innovative trading models without excessive regulatory ￰11￱ part of their commitment to “regulatory harmonization,” the SEC and CFTC announced a joint roundtable scheduled for September 29

￰12￱ image from DALL-E chart from ￰13￱