Crypto Regulation: The Latest in SEC and CFTC Harmonization Details

Paul Atkins, the Chairman of the US Securities and Exchange Commission (SEC), has detailed the collaborative approach between the SEC and the Commodity Futures Trading Commission (CFTC) in regulating the cryptocurrency industry.

Speaking at the ongoing FIA International Futures Industry Conference in Boca Raton, Florida, Atkins said the “regrettable era of duplicative enforcement actions” was over. In its place, the two agencies would jointly work with existing legal provisions to achieve the same goal.

SEC and CFTC joint crypto regulation

For one, firms registered with both agencies would have “substitute compliance.” This means their compliance with the regulations of one agency would imply compliance with similar regulations for the other agency.

To support this, the SEC and CFTC will jointly launch a website where crypto firms can apply for guidance discussions before launching their products. Atkins says dealing with both agencies simultaneously would heighten regulatory efficiency and speed up product approval.

As for event contracts, Atkins called for agency-agency agreement on their classification as securities or security-based swaps.

Other than that, he suggested cross-margining in the derivatives markets, so that firms may use the same collateral across multiple platforms.

He concluded with the following statement:

“The SEC and the CFTC operate under distinct statutes entrusted to us by Congress, and we must administer those mandates faithfully. But fulfilling our responsibility does not require fragmentation; in fact, it calls for coordination.”

Other developments

Atkins speech is in line with US President Donald Trump’s agenda for the nation to become the “crypto capital of the planet.”

Presently, the CLARITY Act, which is meant to provide comprehensive regulations for the cryptocurrency industry, remains stalled in the Senate Banking Committee. Since July 2025, the latter is still debating how to counter stablecoin yields and the rising crypto threat to the banking system. 

Trump had also declared that he would not sign any other bill until Congress passed the Save America Act, which requires proof of ID to vote in the US.