The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly investigating a joint approach to regulating digital assets, FOX Business Journalist Eleanor Terret reported on 13 February.
This initiative includes breathing new life of the long-flocking CFTC-SEC Joint Advisory Committee (Jac), which once served as a bridge between the two agencies.
Initially formed in 2010, the Jac was intended to tackle shared regulatory concerns. However, due to leadership shifts, it became inactive in 2014.
The committee was part of a broader harmonization extension of the regulations described in a report from 2009, with the aim of identifying emerging financial risks and to streamline supervision.
According to the CFTC website:
“Topics The Joint Advisory Committee has been established to tackle, include the identification of emerging regulatory risks, assessment and quantification of the impact of such risks and their implications for investors and market participants, and the efforts of the agencies about harmonization of the regulations. “
Terret suggested that acting CFTC chairman Caroline Pham argued for the recovery of the committee and it saw as a step towards greater cooperation in the field of crypto regulations.
If again launched, the Jac could help solve the uncertainties of the jurisdiction, in particular in cases where digital assets fall under both agencies.
Crypto -Retend efforts
The move is in line with a shifting regulating landscape in which the SEC and CFTC seem more open to crypto-related discussions.
Recent actions of both financial supervisors suggest a growing emphasis on structured policy-making instead of enforcement-first approaches.
The CFTC recently introduced a pilot program to explore tokenized uncontant collateral, such as Stablecoins, on the markets of derivatives.
The agency also reorganized its enforcement department to prioritize the prevention of fraud and investor protection.
On the other hand, the new leadership of the SEC shows a deviation from the previous enforcement-heavy tactics of Gary Gensler. Under Commissioner Mark Uyeda, the Bureau has invited Industrial Players to discuss Crypto instructions.
Moreover, Commissioner Hester Peirce is now leading a newly formed crypto task force. Peirce, in particular, consistently emphasizes the need for clear, predictable guidelines to eliminate legal uncertainty and to reduce unnecessary obstacles that impede the growth of the sector.
These last efforts are aimed at building a robust regulatory framework that promotes economic growth while retaining market integrity.