tl;dr
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are in talks to collaborate on regulating the crypto sector. The discussion includes reinstating the charter for the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues, which was inactive si...
SEC and CFTC Discuss Collaborative Approach to Crypto Regulation
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are in talks to collaborate on regulating the crypto sector. The discussion includes reinstating the charter for the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues, which was inactive since 2014. This move is seen as a step toward a more collaborative regulatory approach in the US.
Regulatory Momentum and New Leadership
The ongoing discussions coincide with broader regulatory shifts, including new leadership nominations for both agencies. President Trump's nominees signal potential for a balanced regulatory approach, with pro-crypto leaders expected to bring clearer guidelines.
Acting CFTC Chair's Advocacy and Regulatory Developments
Acting CFTC Chair, Caroline D. Pham, advocated for the revival of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues. This push for collaboration follows the launch of a CEO Forum by the CFTC, providing crypto firms with a platform to contribute to shaping the Commission's regulations.
Potential Legislative Framework
The reintroduction of the charter for the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues aligns with previous legislative efforts, such as the "BRIDGE Digital Assets Act," proposed to create a joint advisory committee consisting of a 20-member private sector group.
Industry Expectations and Nominees
With the nominations of Brian Quintenz and Paul Atkins for chairman positions at the CFTC and SEC, respectively, optimism grows for a more balanced regulatory approach in the crypto market.