US SEC and CFTC propose to open traditional financial marekts to trading "24/7"

In a joint statement, Paul Atkins, chairperson of the Securities Exchange Commission (SEC), and Caroline Pham, acting chairperson of the U.S. Commodity Futures Trading Commission (CFTC), laid out several proposals to more aggressively support cryptocurrencies, including a proposal for a traditional financial marekt "24/7 market" aimed at adapting the U.S. economy to the pace of the digital asset market.
The policy will enable stock exchanges to continuously trade online. Such markets have followed a strict trading schedule in the 154 years since continuous trading was introduced on Wall Street, which has been open only during specific business hours on weekdays since 1985. However, the two chairpeople said the policy may need to be adjusted to keep pace with continuously active markets such as cryptocurrencies, gold and foreign exchange.
The chairpeople also proposed easing the authority of "innovators" to list event contracts in prediction markets and allowing perpetual derivatives contracts, which are common in the offshore cryptocurrency market but are currently heavily restricted in the US, to trade freely between securities and commodity exchanges. Another proposal would create an "innovation exemption" for DeFi protocols that offer trading in spot cryptocurrencies and perpetual derivatives contracts. The chairpeople said the proposals were in line with a report released by the Trump administration in July directing agencies to ease many restrictions on US cryptocurrency trading.