- SEC Chair Paul Atkins and CFTC Chair Michael Selig will hold an event on Tuesday to discuss regulatory harmonization for crypto.
- The agencies said the meeting aims to align unclear jurisdictional boundaries and support U.S. innovation, as stated in their announcement.
- The industry is watching the Senate’s effort to pass a crypto market-structure bill that would define the agencies’ roles.
- A recent Senate Banking draft added limits on stablecoin yields and DeFi, prompting Coinbase to withdraw support and delay markup.
- Senate Agriculture Republicans released a separate draft ahead of committee markup; both committees must reconcile their versions before a final Senate vote.
Paul Atkins and Michael Selig will appear on Tuesday to discuss harmonization between the SEC and the CFTC, the agencies said on Thursday in a formal announcement. The event aims to advance implementation of President Donald Trump’s crypto agenda and to clarify regulatory roles for market participants. Read the agencies’ statement here and see a related post by Paul Atkins here.
In their joint statement, the chairs said the current regulatory lines are unclear and misaligned. “For too long, market participants have been forced to navigate regulatory boundaries that are unclear in application and misaligned in design, based solely on legacy jurisdictional silos,” they wrote. “This event will build on our broader harmonization efforts to ensure that innovation takes root on American soil, under American law, and in service of American investors, consumers, and economic leadership.”
The crypto industry is awaiting a Senate bill that would define how the two agencies regulate digital assets. Both the Senate Banking and Senate Agriculture Committees are preparing separate drafts and moving toward markups, but negotiations have faced delays while seeking bipartisan support.
A recent Senate Banking draft added new restrictions on stablecoin yields and decentralized finance, leading major industry advocate Coinbase to withdraw backing and prompting a delay in the committee markup. Meanwhile, Senate Agriculture Republicans released their draft ahead of a planned markup next week; that version did not win Democratic support, according to a related post by a committee member here.
Both committees must mark up and approve their bills before a reconciled measure can reach the Senate floor, and the legislation is expected to change as that process continues.
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