SEC and CFTC Proposal to Enable 24/7 US Financial Markets in Response to Cryptocurrency Growth

The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are suggesting substantial modifications to the US market structure, including offering round-the-clock trading, to adapt to the rapid expansion of the cryptocurrency market. This proposal intends to ensure the United States remains at the forefront of financial innovation and global competitiveness. The proposal also encompasses other updates concerning the regulatory framework to protect investors and maintain market integrity. Supporters argue these changes are vital to attract more capital to the United States, while critics express concerns about the potential risks of 24/7 markets, including increased volatility and the need for stricter regulatory oversight. A public comment period on the proposal will now be opened before any final decision is made.