SEC and CFTC Discuss Joint Crypto Regulation Efforts

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are discussing collaborating on regulating the crypto sector.

The talks follow significant leadership changes at both regulatory bodies under Donald Trump’s second term as President.

SEC, CFTC Join Hands For Crypto Regulation

Fox Business reporter Eleanor Terrett shared the news in a social media post on X (formerly Twitter).

“With digital assets becoming a top priority for regulators, the @SECGov and @CFTC are currently discussing ways in which they can effectively collaborate on #crypto regulation,” the post read.

According to Terrett, one proposal under consideration is the reinstatement of the charter for the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues.

The committee was created in 2010 by then CFTC Chairman Gary Gensler and SEC Chairman Mary Schapiro. It addressed various topics, including identifying emerging regulatory risks, evaluating their impact, and understanding their effects on investors and market participants. It also worked on aligning regulatory efforts between the agencies.

“The committee’s objectives and scope of activities shall be to conduct public meetings, to submit reports and recommendations to the CFTC and the SEC and otherwise to serve as a vehicle for discussion and communication on regulatory issues of mutual concern and their effect on the CFTC’s and SEC’s statutory responsibilities,” the charter detailed.

The committee was originally established to function for two years, with provisions for renewal. However, it became inactive in 2014. Acting CFTC Chair Caroline D. Pham advocated for its revival last year.

“I am looking forward to the future, and I hope that next year, both the CFTC and SEC will act to reinstate the charter for the CFTC-SEC Joint Advisory Committee on Emerging Regulatory Issues, which has been dormant for the past decade,” Pham said in a November GMAC meeting.

She emphasized that it would indicate a move toward a more collaborative regulatory approach in the US. It’s worth noting that this isn’t the first push for a collaborative effort between the SEC and the CFTC.

Previously, Congressman John Rose introduced the “BRIDGE Digital Assets Act.” It proposes the creation of a joint advisory committee consisting of a 20-member private sector group

Meanwhile, this development comes as regulatory discussions around the digital asset market are gaining momentum. Last week, the acting CFTC Chair launched a CEO Forum. This provided crypto firms with an opportunity to actively contribute to shaping the Commision’s regulations.

The ongoing discussions align with broader regulatory shifts. President Trump has put forward Brian Quintenz as his nominee for the position of chairman of the CFTC. Quintenz, who previously served as a commissioner at the CFTC, currently acts as a16z’s global head of policy.

Additionally, the President has nominated Paul Atkins, a known cryptocurrency advocate, to lead the SEC. At present, Mark Uyeda is acting as chair until the Senate confirms Atkins.

With pro-crypto leaders leading both agencies, many in the market are optimistic about clearer guidelines and a more balanced regulatory approach.