SEC And CFTC Discussing Crypto Collaboration
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Recent reports allege that the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are in talks to collaborate on crypto regulations amid their new approach shift under Trump’s industry-friendly administration. SEC And CFTC Discuss Collaboration On Wednesday night, FOX Business journalist Eleanor Terret revealed that the US SEC and CFTC are discussing their options for effectively collaborating on crypto regulations as a clear framework for digital assets becomes “a top priority” for the agencies. According to Terret, the regulatory agencies are considering reinstating the chart for the CFTC-SEC joint advisory committee, which has been inactive for over a decade. The CFTC-SEC Joint Advisory Committee on Emerging Regulatory Issues was established in 2010 by the CFTC and SEC chairs, Gary Gensler and Mary Schapiro. The joint committee aimed to develop recommendations on ongoing issues related to both agencies, including emerging regulatory risks, their implications for investors and market participants, and the agencies’ efforts in regulatory coordination. CFTC’s description of the inactive joint advisory group. Source: Eleanor Terret on X In November 2024, CFTC acting chair Caroline Pham called to revive the joint advisory committee, suggesting it would signal the new collaborative approach to regulating the crypto industry. 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. It would be a strong signal of a new U.S. regulatory approach that is collaborative and cooperative. US Agencies’ Crypto Regulatory Efforts The potential revival of the joint advisory committee follows the ongoing changes in the US regulatory agencies. After Gary Gensler departed the SEC, the agency’s acting chair, Mark Uyeda, created the Crypto Task Force. The…
Filed under: News - @ February 14, 2025 11:21 am