The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly planning a joint roundtable to discuss and “harmonize” their approaches to regulating decentralized finance (DeFi) and other crypto products.
This development comes as the Senate also appears to be nearing a vote on a key crypto bill aimed at ending the “turf wars” between the two agencies and creating a clearer market structure.
A joint roundtable to be held on Sept. 29, 2025, from 1 p.m. to 5 p.m. as
announced.
Significant hurdles for crypto
The long-standing regulatory uncertainty in the United States regarding cryptocurrencies and blockchain is showing new signs of progress.
For years, the crypto industry has been caught in the middle of a jurisdictional battle between the SEC, which views many digital assets as securities, and the CFTC, which sees others as commodities. This lack of a unified regulatory framework has created significant hurdles for crypto companies operating in the U.S., hindering innovation and causing confusion for both businesses and investors.
The proposed joint committee and roundtable are intended to address this core issue by fostering cooperation and, ideally, creating a more cohesive and predictable regulatory environment.
A crucial moment for the future of the industry
The discussion will focus on key areas, including DeFi protocols, which operate without a central intermediary, and the regulation of perpetual contracts and other derivatives. The SEC has a rulemaking agenda that includes “broad proposals to revamp crypto policies,” suggesting a comprehensive approach is being considered. This potential for regulatory clarity is seen by many in the industry as a bullish signal. A predictable legal and regulatory landscape could encourage more institutional capital to enter the market and accelerate the development of new blockchain-based applications.
However, the path to a harmonious regulatory framework is not without its challenges. The two agencies have distinct mandates and historical perspectives that have often put them at odds. The outcome of these discussions will be crucial in determining the future of the crypto industry in the U.S.
A successful outcome could position the country as a leader in blockchain innovation, while a failure could drive more businesses to seek more favorable jurisdictions abroad. The ongoing dialogue, spurred by both political and market pressures, is a testament to the growing importance of the crypto sector in the global financial system.