US agencies, the SEC and CFTC, are working to resolve regulatory differences regarding crypto assets to enhance effective and coordinated oversight.
Regulatory Cooperation and Approaches
At a fintech symposium in Washington, CFTC officials expressed their willingness to collaborate with the SEC. The aim is to clarify the responsibilities of both agencies, making crypto asset oversight more effective and cohesive.
Past Practices and Political Trends
Historically, the SEC has classified most tokens as securities, while the CFTC intervened with a more flexible regulatory approach. SEC member Hester Peirce supported this collaboration by stating the need for more transparent and open regulations.
Future Prospects and Collaboration Benefits
The upcoming White House Crypto Summit is emerging as a platform for extensive discussions between industry representatives and regulators. This step is seen as a hopeful development towards eliminating regulatory uncertainties.
Efforts to increase regulatory cooperation will help reduce uncertainties in digital asset markets, supporting the innovation-driven growth of the sector.
