The Commodity Futures Trading Commission will tap into Nasdaq’s market surveillance technology to enhance its oversight of both traditional and cryptocurrency markets.
Summary
- Commodity Futures Trading Commission will deploy Nasdaq’s market surveillance technology to monitor the crypto market.
- The CFTC says the technology allows it to enhance market integrity across crypto and traditional finance.
- U.S. regulators have increasingly looked to bring digital assets into the broader market fold.
The Commodity Futures Trading Commission said on August 27, 2025 that it was adopting Nasdaq’s surveillance technology as a new standard for its cross-market monitoring, with the goal of ensuring market integrity.
The CFTC plans to leverage the best suite of tools to detect fraud and market manipulation across legacy and digital asset classes.
“As our markets continue to evolve and integrate new technology, it’s critical that the CFTC stays ahead of the curve,” Acting CFTC chair Caroline D. Pham said. “Nasdaq Market Surveillance will, for the first time, provide the CFTC with automated alerts and cross-market analytics that will benefit each of the CFTC’s operating divisions and better protect our markets from fraud, manipulation and abuse.”
The move is part of the commodities markets watchdog’s quest to embrace new technology, aligning the regulator’s efforts with acting chair Pham’s pledge to replace the agency’s “‘90s-era” system.
It also comes at a time regulators in the United States increasingly take a crypto-friendly stance. Regulation like the landmark stablecoin law GENIUS Act has added to this outlook.
CFTC targets cross-market surveillance
Recently, the Securities and Exchange Commission announced Project Crypto as it looks to promote clarity for the industry. SEC chair Paul Atkins recently noted that most cryptocurrencies were not securities.
Meanwhile, the CFTC unveiled Crypto Sprint, a move aimed at implementing recommendations highlighted in the President’s Working Group on Digital Asset Markets report.
The U.S. Treasury also sought public feedback on blockchain tools for detecting illicit finance activities.
The CFTC is extending this trend as it streamlines derivatives regulation.
“Today’s financial markets demand advanced surveillance technology that can adapt to rapid regulatory evolution and emerging asset classes,” said Tal Cohen, president of Nasdaq.
Nasdaq’s surveillance technology provides for cross-market monitoring across more than 50 global exchanges. More than 20 international regulators also tap into it for capital markets integrity.
Exchanges use the technology to identify potential fraud and manipulation patterns, as well as for detailed transaction-level analysis and automated alerts.
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