SEC and CFTC to hold harmonisation event on crypto oversight

The US Securities and Exchange Commission and the Commodities Futures Trading Commission said they will hold a joint event to discuss harmonising crypto oversight.

SEC chair Paul Atkins and CFTC chair Michael Selig are scheduled to speak at the event on Tuesday, according to a joint statement.

The agencies said the discussion will focus on aligning regulatory approaches as legislative efforts to define crypto market oversight advance in the Senate.

“For too long, market participants have been forced to navigate regulatory boundaries that are unclear in application and misaligned in design, based solely on legacy jurisdictional silos,”

Atkins and Selig said.

“This event will build on our broader harmonisation efforts to ensure that innovation takes root on American soil, under American law, and in service of American investors, consumers, and economic leadership,”

They added.

The crypto industry is closely watching the US Senate as it works on market structure legislation that would clarify the roles of both agencies.

The Senate Banking and Agriculture Committees are seeking bipartisan support but have faced delays in advancing their respective bills.