Recent reports allege that the American Commission for Securities and Exchange (SEC) and the Commodity Futures Trading Commission (CFTC) are in talks to collaborate on cryptographic regulations in the middle of their new change of approach under the administration Suitable for Trump’s industry.
Dry and CFTC discuss collaboration
On Wednesday evening, Fox Business Eleanor Terret journalist revealed that the American Sec and the CFTC discuss their options to collaborate effectively on cryptographic regulations because a clear framework for digital assets becomes “an absolute priority” for agencies.
According to Terret, the regulatory organizations plan to restore the table of the joint CFTC-SEC advisory committee, which has been inactive for more than a decade. The CFTC-SEC joint advisory advisory committee on emerging regulatory issues was created in 2010 by CFTC and SEC chairs, Gary Gensler and Mary Schapiro.
The mixed committee aimed to develop recommendations on current issues related to the two agencies, in particular emerging regulatory risks, their implications for investors and market players, as well as the efforts of agencies in regulatory coordination.
CFTC's description of the inactive joint advisory group. Source: Eleanor Terret on X
In November 2024, the acting president of the CFTC, Caroline Pham, called to relaunch the joint advisory committee, suggesting that this would signal the new collaborative approach to regulate the cryptographic industry.
I look forward to the future, and I hope that next year, the CFTC and the SEC will act to restore the CFFC-SEC Charter Joint Advisory Committee on emerging regulatory issues, which was dormant during the last decade. It would be a strong signal of a new American regulatory approach that is collaborative and cooperative.
Cryptographic regulation efforts of American agencies
The potential renaissance of the joint advisory committee follows on the changes in progress in American regulation organizations. After Gary Gensler left the Sec, the actor’s actor president Mark Uyeda created the crypto working group.
The working group, led by the commissioner adapted to the Hester Peirce industry, was created to examine the agency’s approach to treat digital assets and create a “complete and clear” regulatory framework. In addition, it should adopt a “more pleasant and less risky” approach than that of the Commission in the last decade.
Commissioner Peirce recently declared to Bloomberg Crypto that the regulation agency “tries to resume a path where we really use our other tools to develop a policy” after years of use of application cases as “a means of doing a regulatory policy ”.
Meanwhile, US President Donald Trump recently appointed the Pro-Crypto Brian Quintenz to lead the CFTC. Quintez was CFTC commissioner during the first Trump administration and is the current leader of the Crypto division of Andreessen Horowitz (AI16Z).
In a post X, he said: “The CFTC plays an essential role in maintaining the robust price and discovery markets that are the desire for the globe.” And suggested that the agency is “ready to ensure that the United States leads the world in blockchain technology and innovation”.
Several industry personalities, including the CEO of Ripple, Brad Garlinghouse and the president of Strategy, Michael Saylor, have shared the excitement about the appointment. Meanwhile, Commissioner Peirce congratulated Quintez, adding that she was “impatiently awaiting more dry-CFTC cooperation. The last time was Dodd-Frank title VII. This time crypto.
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