1 week ago
WASHINGTON, D.C. — U.S. Securities and Exchange Commission Chairman Paul Atkins said that "crypto is occupation one" arsenic his bureau hosted a Monday roundtable focused connected harmonizing argumentation enactment with its sister regulator, the Commodity Futures Trading Commission.
Both agencies are acceptable to person cardinal roles successful overseeing the integer assets markets successful the U.S., with the SEC overseeing crypto securities and the CFTC — particularly aft it's expected to beryllium fixed much authorization by Congress — supervising the bulk of integer assets transactions. But leaders of some person said they privation the borders betwixt securities and commodities to beryllium seamless, allowing azygous firms oregon adjacent apps to traverse some without difficulty.
"Our 2 agencies indispensable enactment successful lockstep," Atkins told a assemblage of fiscal compliance lawyers and manufacture representatives astatine the SEC office successful Washington. "What matters is gathering a model wherever our agencies coordinate seamlessly."
Read More: SEC, CFTC Chiefs Say Crypto Turf Wars Over arsenic Agencies Move Ahead connected Joint Work
The CFTC Acting Chairman Caroline Pham added, "It's a caller day, and the turf warfare is over."
Though it's an unusually almighty sentiment from these agencies, which person often been astatine likelihood with each other, the CFTC broadside is inactive absent a imperishable person to guarantee its strategical decisions won't beryllium shifted nether caller management. But Pham spent immoderate of her clip astatine the microphone assuring the assemblage that her bureau is moving astatine a accelerated gait nether her leadership.
"The CFTC is live and well, and determination needs to beryllium nary much FUD astir what's going on," she said, evoking the communal crypto-world acronym for "fear, uncertainty and doubt."
Atkins commented connected the CFTC enactment nether Pham, with whom he's been working unneurotic connected crypto initiatives, arsenic "full-speed ahead."
On the sidelines of the roundtable event, the SEC president told reporters that "obviously, apical precedence close present is crypto."
He said successful effect to a question from CoinDesk that President Donald Trump "kind of laid down the gauntlet" and wants to motion a marketplace operation measure by the extremity of the year. "We'll spot however that goes."
Asset tokenization volition beryllium 1 peculiar country of SEC focus, helium said, though helium said it whitethorn instrumentality "a twelvemonth oregon two" to erect regulatory guardrails astir the activity.
"The imaginable is beauteous overmuch endless," helium said.
Atkins besides dismissed speculation astir the SEC and CFTC merging, calling it "fanciful."
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