SEC, CFTC Sign Landmark MOU to Coordinate Crypto Oversight

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) signed a Memorandum of Understanding (MOU) on March 11 to formalize coordination on digital asset regulation, effectively ending years of jurisdictional rivalry. This agreement, part of the joint Project Crypto initiative, establishes a framework covering six priority areas, including clarifying product definitions, modernizing rules, and streamlining cross-market examinations and enforcement. SEC Chairman Paul Atkins stated the MOU ends turf wars and duplicative regulations that stifled innovation. The CFTC, under Chairman Michael Selig, is concurrently moving to clarify guidance on non-custodial developers and leveraged retail crypto transactions, favoring a "minimum effective dose" of regulation. The timing is significant as the Digital Asset Market Clarity Act remains stalled in the Senate over stablecoin yield provisions. The MOU builds operational infrastructure for coordinated oversight regardless of legislative progress, potentially reducing compliance burdens for dually registered exchanges through mechanisms like "substituted compliance."

(Source：BeInCrypto)