U.S. SEC and CFTC jointly propose '24/7 market'…also consider easing regulation of prediction markets

Suehyeon Lee

Summary

Reported that the U.S. SEC and CFTC proposed a 24/7 market policy.
The two agencies said they are also considering easing regulations on prediction markets and perpetual futures contracts.
They also said they would apply 'innovation exemptions' to decentralized finance (DeFi) protocols to allow experiments with new financial products.

The heads of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) put forward proposals to adapt traditional financial markets to the trends of the virtual asset (cryptocurrency) market.

According to Decrypt on the 6th (local time), Paul Atkins, SEC chair, and Caroline Pham, acting chair of the Commodity Futures Trading Commission (CFTC), in a joint statement proposed a '24/7 market' policy to operate the U.S. securities market 24 hours a day, 365 days a year. This is interpreted as an attempt to break down the boundary between traditional financial markets and virtual asset markets.

The SEC and CFTC also proposed easing regulations on prediction markets and perpetual futures contracts in the joint statement. It also included applying 'innovation exemptions' to decentralized finance (DeFi) protocols to allow experiments with new financial products within the regulatory framework.