SEC, CFTC plan to sign memorandum on crypto oversight

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are planning to formalize their cooperation on cryptocurrency regulation through a memorandum of understanding (MOU). SEC Chair Paul Atkins stated that while legislation is preferred, regulators can proceed with existing authority. This move aims to establish rules supporting industry growth and harmonize crypto regulation, with a joint event scheduled for January 29th to discuss these efforts. The agencies will likely work to determine which crypto assets fall under each of their jurisdictions. This regulatory push coincides with a crypto market structure bill passing the Senate Agriculture Committee, though its progress remains uncertain due to partisan divisions and concerns over stablecoin provisions, leading Coinbase to withdraw its support. Despite these challenges, the administration remains committed to fostering growth in the digital asset market.

(Source：Crypto Briefing)