US regulators have opened the door for Wall Street’s biggest names to compete directly with crypto-native exchanges.
The SEC and CFTC confirmed that national exchanges like Nasdaq and foreign boards of trade are not prohibited from offering spot crypto trading. This signals a major shift towards institutionalizing crypto, promising higher standards for investor protection, market transparency, and surveillance that could attract a new wave of capital.
Under the Trump administration, US policy on digital assets has pivoted sharply, a change highlighted by the recent staff guidance. This shift has seen a push from both Congress and the White House for clearer crypto rules, ranging from new stablecoin legislation to redefining the regulatory roles of the SEC and CFTC.
