U.S. regulators are discussing the revival of a joint SEC-CFTC committee aimed at improving crypto regulation coordination.
History of SEC-CFTC Joint Committee
The CFTC-SEC Advisory Committee on Emerging Regulatory Issues was established in 2010 to help the SEC and CFTC coordinate their efforts. This idea emerged from the need for improved coordination following the 2008 financial crisis. The committee ceased operations in 2014 due to leadership changes and shifting priorities.
Current Efforts to Revive the Committee
According to Fox News journalist Eleanor Terrett, the SEC and CFTC are discussing the possibility of reviving the joint committee. Acting CFTC Chair Caroline Pham proposed bringing back the committee in 2024, stating that the joint panel would signal a new, collaborative U.S. regulatory approach. Neither the SEC nor the CFTC has released official comments on the matter yet.
New Initiatives in Crypto Regulation
President Donald Trump's newly appointed AI and Crypto Czar David Sacks aims to work with Congress on market structure legislation, indicating a push for clearer crypto regulations. U.S. agencies, including the Treasury and the SEC, are expected to identify all laws relevant to cryptocurrencies and digital assets by the end of February.
Discussions on the revival of the SEC-CFTC joint advisory committee highlight the U.S.'s drive towards clear and coordinated crypto regulation. This could change the regulatory approach and set new standards for cooperation in the field.
