SEC and CFTC Sign MOU on March 12 to Coordinate Crypto Oversight and Digital Asset Product Rules

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission signed a Memorandum of Understanding on March 12 to deepen coordination on crypto asset regulation and the rollout of new digital asset products, ChainThink reports. The MOU aims to guide cooperation between the two agencies on supporting lawful innovation, preserving market integrity, and strengthening investor and customer protection, while advancing a "fit-for-purpose regulatory framework" for emerging technologies such as crypto assets. SEC Chairman Paul Atkins said longstanding jurisdictional disputes, overlapping registration obligations, and differing rule sets between the agencies have partly restrained innovation and encouraged some market participants to look to other jurisdictions, and the agencies will coordinate on removing regulatory barriers to the legitimate launch of new financial products, including crypto-related offerings. CFTC Chair Michael Selig stated that U.S. financial markets lead globally because they adapt to investor needs and that the supervisory framework must evolve accordingly to deliver more unified and comprehensive oversight.