As digital asset regulation gains prominence, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are exploring ways to enhance their crypto regulatory cooperation through a joint advisory committee.
US SEC-CFTC Joint Advisory Committee and Crypto Regulations
Both the agencies are thus, considering restarting the SEC-CFTC Joint Advisory Committee, which has been inactive since 2014. The committee was originally established in 2010 to provide a platform for the agencies to discuss emerging regulatory issues. According to Fox News journalist, Eleanor Terrett, last year the CFTC Acting Chairman Pham had called for the committee’s restructuring, believing it would signal US regulatory agencies’ commitment to a collaborative approach in regulating virtual assets.
🚨SCOOPLET: With digital assets becoming a top priority for regulators, the @SECGov and @CFTC are currently discussing ways in which they can effectively collaborate on #crypto regulation, @FoxBusiness has learned.
One idea is to reinstate the charter for the CFTC-SEC joint… pic.twitter.com/5vJGhHyMro
— Eleanor Terrett (@EleanorTerrett) February 13, 2025
The Joint CFTC-SEC Advisory Committee on ‘Emerging Regulatory Issues’ was first formed in 2010 to develop recommendations on emerging and ongoing issues concerning both agencies. However, it has been dormant since 2014. It is worth mentioning that this committee was one of the 20 recommendations included in the agencies’ harmonization report issued in 2009. According to its official site, the committee was created to identify emerging regulatory risks, assess and quantify their impact, and evaluate the implications for investors and market participants, as well as the agencies’ regulatory collaboration efforts.
With Brian Quintenz nominated as permanent Chairman of the CFTC, one can expect several pro-crypto initiatives to move forward at an accelerated pace.
Meanwhile, despite Paul Atkins’ nomination as SEC Chairman, his confirmation is still pending, with Hester Peirce currently serving as Acting Chairman. Notably, Atkins’ confirmation hearing before the Senate Banking Committee has yet to be scheduled. As a result, progress on this matter is slow, and a full Senate vote remains uncertain. Therefore, the SEC-CFTC collaborative efforts may not reach full momentum until Atkins officially assumes the role.
Also Read: SEC Rethinks Crypto Crackdown as Hester Peirce Pushes for Clear Rules
Source: https://www.cryptonewsz.com/sec-cftc-restart-joint-advisory-crypto/