SEC and CFTC Discuss Joint Crypto Regulation Efforts
Securities and Exchange Commission (SEC) and Commodities futures The Trade Commission (CFTC) is discussing cooperation on regulating the cryptocurrency sector.
Negotiations follow significant leadership changes from the two regulators of Donald Trump’s second president.
SEC, CFTC joins hands with encryption regulations
Fox business reporter Eleanor Terrett shared the news in a social media post on X (formerly Twitter).
“As digital assets become a top priority for regulators, @secgov and @CFTC are currently discussing ways they can work effectively on #Crypto regulation,” he said. postal read.
According to Terrett, one proposal under consideration is to restore the charter of the Joint CFTC-SEC Advisory Committee Emerging regulatory issues.
The committee was formed in 2010 by the then-CFTC Chairman Gary Genses and SEC Chairman Mary Schapiro. it solve Various topics, including Identify emerging regulatory risks, assess their impacts and understand them Impact on investors and market participants. It is also committed to integrating regulatory efforts among agencies.
“The objective and scope of activities of the Commission is to hold public meetings, submit reports and recommendations to the CFTC and the SEC and to otherwise serve as a tool for communication regarding regulatory issues of mutual concern and their impact on the CFTC and the CFTC. The statutory responsibilities of the SEC ” Charter Detailed.
The committee was originally intended to operate for two years and had contract renewal provisions. However, it became inactive in 2014. Acting CFTC Chairman Caroline D. Pham advocated for last year’s revival.
“I look forward to the future and I hope that next year both the CFTC and the SEC will resume the charter for emerging regulatory issues of the CFTC-SEC Joint Advisory Committee, which has been dormant for the past decade.” Pham explain At the GMAC meeting in November.
She stressed that this would indicate a more collaborative regulatory approach in the United States. It is worth noting that this is not the first push for a collaborative effort between the SEC and the CFTC.
Previously a member of Congress John Rose introduced the “Bridge Digital Assets Act.” It proposed the establishment of a joint advisory committee of the private sector consisting of 20 members
At the same time, this development has developed with the development of regulatory discussions in the digital asset market. Last week, the performance CFTC Chairman Launches CEO Forum. This provides crypto companies with the opportunity to actively contribute to the Commission’s regulations.
Ongoing discussions are aligned with a broader regulatory shift. President Trump proposes Brian Quintenz As the nominee for the position of CFTC Chairman. Quintenz previously served as a commissioner at the CFTC and is currently the global policy leader for A16Z.
Additionally, the president nominated Paul Atkins, a known cryptocurrency advocate, to lead the SEC. Now, Mark Uyeda as chairman Until the Senate confirms Atkins.
With the leadership of pro-Creputo leaders, many institutions in the market are clearer about the guidelines and a A more balanced regulatory approach.
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