The U.S. SEC and CFTC proposed that traditional financial markets operate 24/7 for trading

ChainCatcher news, according to Decrypt, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins and U.S. Commodity Futures Trading Commission (CFTC) Acting Chair Caroline Pham proposed several more proactive measures to support cryptocurrency in a joint statement, including a proposal for a traditional financial market "24/7 market" aimed at adapting the U.S. economy to the rhythm of the digital asset market.

This policy would allow stock exchanges to trade continuously online. For the 154 years since Wall Street introduced continuous trading, such markets have adhered to a strict trading schedule, which has only been open during specific business hours on weekdays since 1985. However, the two chairpersons indicated that this policy may need to be adjusted to keep pace with continuously active markets such as cryptocurrencies, gold, and foreign exchange.

The two chairpersons also proposed to relax the permissions for "innovators" to launch event contracts in prediction markets and to allow perpetual derivative contracts (which are common in offshore cryptocurrency markets but currently face strict limitations in the U.S.) to trade freely between securities and commodity exchanges. Another proposal would establish an "innovation exemption" for DeFi protocols that provide spot cryptocurrency and perpetual derivative contract trading. The chairpersons stated that these proposals align with a report released by the Trump administration in July, which instructed agencies to relax many restrictions on cryptocurrency trading in the U.S.