U.S. securities regulators signaled a major policy shift Friday, proposing to bring traditional markets online around the clock to better match the always-on pace of crypto and global trading. SEC Chair Paul Atkins and CFTC acting chair Caroline Pham unveiled a joint set of proposals that would let securities and commodities exchanges expand trading hours — and in some cases operate 24/7.
The proposals go beyond extended hours. Regulators floated easing rules so innovators can list event contracts on prediction markets, and proposed allowing perpetual-derivative contracts — common in offshore crypto venues — to trade across securities and commodities markets. They also suggested creating “innovation exemptions” to let DeFi protocols offer spot crypto and perpetuals without immediately triggering multiple legacy licensing requirements.
The agencies framed the push as part of a broader effort to reconcile two regimes that have long been separate as markets converge. The move follows a July report from the White House and a recent joint statement proposing spot crypto trading on U.S. exchanges. Atkins has repeatedly promoted the idea of financial “super-apps” — platforms that combine securities, crypto, staking and lending under one roof — as a regulatory priority.
Not everyone is on board. Amanda Fischer of Better Markets called the package “extremely dangerous,” warning that combining securities, spot crypto, leveraged futures and event contracts in a single app could amplify risk and give crypto-native firms an unfair edge. Regulators acknowledged complexity and said any changes may be asset-specific; they plan to continue the discussion at a Sept. 29 roundtable.
Why it matters: If adopted, these proposals would reshape U.S. market structure, deepen domestic access to crypto products and accelerate convergence between TradFi and crypto. Implementation is likely to take years and would raise fresh compliance, liquidity and investor-protection questions — risks firms and users should weigh when planning product or market entries.
Source: Decrypt. Read the original coverage for full details.