Thomas Daniels
According to CFTC Acting Chair Caroline Pham, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are strengthening their interagency cooperation on the regulation of digital assets.
According to Pham, staff-level talks have started up again, with the goal of improving cooperation between the two agencies on digital assets and other regulatory issues. Pham’s comments on X were brought to light by FOX Business reporter Eleanor Terrett, who emphasized the possibility of improved collaboration between the two financial authorities.
“We have resumed staff-level discussions between the SEC and the CFTC. We’d like to collaborate. We’ve collaborated effectively in the past, and I’m eager to restore order,” Pham said. The talks are happening in Washington, D.C., at the Future of Fintech Symposium hosted by the Milken Institute.
The chair of the SEC’s recently established crypto task force, Commissioner Hester Peirce, also offered her thoughts on the discussions. Peirce, who is well-known for supporting regulations that are beneficial to cryptocurrency, has regularly criticized the SEC’s “regulation by enforcement” strategy, which she claims inhibited innovation under former SEC Chair Gary Gensler.
Peirce emphasized how crucial public involvement is in forming regulatory laws. She also emphasized how the SEC’s jurisdiction over digital assets was first defined by President Donald Trump’s crypto working group, suggesting a possible move toward a more open regulatory environment.
Peirce said, “It’s critical to understand what constitutes an SEC remit and what does not.” Crucially, the crypto working group has begun to determine what is under the SEC’s purview and what is not. Public participation in rulemaking processes is crucial, and individuals who may be impacted by the regulations should be able to take part.
In January, Trump named Commissioner Mark Uyeda the Acting Chair of the SEC and Pham the Acting Chair of the CFTC. Peirce was later chosen by Uyeda to head the crypto task force.
Trump’s remarks about creating a U.S. crypto strategic reserve were made just days before to this new partnership. Furthermore, on Friday, March 7, 2025, the White House will host its first crypto symposium, highlighting the increased emphasis on regulating digital assets at the highest governmental levels.
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