Kraken, Crypto.com Execs to Attend SEC-CFTC ‘Harmonization’ Event

Executives from a few cryptocurrency companies will speak on panels to discuss “regulatory harmonization efforts” between two US financial regulators next week.

In a Wednesday notice, the US Securities and Exchange Commission (SEC) said it would host a roundtable event with the Commodity Futures Trading Commission (CFTC) on Monday as part of efforts to coordinate on financial regulation, including cryptocurrencies. Representatives from cryptocurrency exchanges Kraken and Crypto.com, as well as prediction markets Kalshi and Polymarket, will speak on panels.

Though focused on bridging regulation between the two agencies, the roundtable event will be held amid a dearth of leadership at the CFTC. This year, every commissioner at the financial regulator has resigned or departed, with the exception of acting Chair Caroline Pham. Former CFTC Chair J. Christopher Giancarlo and former commissioner Jill Sommers will be moderating panel discussions on Monday.

The roundtable discussions will come as members of Congress consider legislation to create a digital asset market structure in the US, which would likely establish clear roles for the SEC and CFTC in regulating cryptocurrencies. Though the US House of Representatives passed its version of market structure in July through the CLARITY Act, the Senate has yet to vote on a bill.

Related: CFTC initiative to allow stablecoins as collateral in derivatives markets

Cointelegraph reached out to Giancarlo for comment on the roundtable but had not received a response at the time of publication.

Shaking up crypto policies in both agencies

Since US President Donald Trump took office in January, resulting in the departure of former SEC Chair Gary Gensler and former CFTC Chair Rostin Behnam stepping down, the two financial regulators have moved forward with policies benefiting the cryptocurrency industry.

On the SEC side, the agency dropped several investigations and enforcement actions — some of which had been in court for years — against crypto companies, including Coinbase, Ripple Labs and Kraken. Last week, the regulator signed off on generic listing standards that would likely result in faster approvals for cryptocurrency exchange-traded funds (ETFs).