US market regulators move to coordinate on crypto oversight

The chairs of the CFTC and SEC appeared together at a joint agency event Thursday to discuss a unified approach to crypto regulation.

Michael Selig, chair of the US Commodity Futures Trading Commission (CFTC), announced that the agency would join the efforts of the Securities and Exchange Commission’s Project Crypto.

In remarks prepared for an SEC-CFTC discussion on harmonizing the agencies’ approach to digital assets, Selig said that the CFTC would partner with the SEC on its Project Crypto, an initiative launched in July to establish clarity on regulations for digital assets. 

According to the CFTC chair, the joint collaboration aims to “advance a clear crypto asset taxonomy, clarify jurisdictional lines, remove duplicative compliance requirements, and reduce regulatory fragmentation.” 

Read more