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SEC and CFTC Explore Collaboration for Crypto Regulation Amid Leadership Changes
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SEC and CFTC are discussing collaboration to regulate the crypto sector amid leadership changes.
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A proposal for the Joint CFTC-SEC Advisory Committee’s revival is under consideration.
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The upcoming leadership shifts may signal a crypto-friendly regulatory environment with clearer guidelines.
The SEC and CFTC are considering collaboration on crypto regulation, signaling potential positive shifts in the regulatory landscape for digital assets.
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.