The Breakdown What the End of the Shutdown Really Means for Crypto
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Nov 14, 2025 The end of the government shutdown is breathing new life into crypto regulation. With the CFTC chair nearing confirmation, regulated spot markets are on the horizon. The SEC is revamping its tokenization and ETF strategies while Congress tackles stalled market-structure bills. Liquidity is set to improve as Treasury spending resumes, but macroeconomic uncertainty remains. Plus, the discussion on token taxonomy could redefine how certain tokens are classified, paving the way for easier market access.
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CFTC Leadership Restores Regulatory Momentum
- The CFTC is about to install Mike Selig as chair, ending nearly ten months without a confirmed leader.
- Regulated US spot crypto markets and spot futures/options on TradFi venues will soon be possible, cementing exchange legality.
CFTC Venues To Host Spot Crypto
- Acting Chair Caroline Pham moved policy during the shutdown and confirmed spot crypto trading will arrive at CFTC-regulated venues soon.
- This will enable TradFi exchanges like CME and CBOE to host spot crypto, improving capital efficiency for arbitrage and carry trades.
SEC Pushes For Tokenization Exemptions
- SEC Chair Gary Gensler (note: transcript names Atkins) seeks an innovation exemption to fast-track on-chain products and tokenization.
- The SEC plans exemptive relief to let certain crypto products come to market quicker under tailored regimes.