The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly exploring a joint approach to regulating digital assets, Fox Business Journalist Eleanor Terret reported on Feb. 13.
This initiative includes reviving the long-dormant CFTC-SEC Joint Advisory Committee (JAC), which once served as a bridge between the two agencies.
Initially formed in 2010, the JAC was meant to address shared regulatory concerns. However, due to leadership shifts, it became inactive in 2014.
The committee was part of a broader regulatory harmonization effort outlined in a 2009 report, aiming to identify emerging financial risks and streamline oversight.
According to the CFTC website:
“Subjects the joint advisory committee was created to address included 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 agencies’ efforts on regulatory harmonization.”
Terret suggested that acting CFTC Chair Caroline Pham advocated for the committee’s reinstatement, seeing it as a step toward greater cooperation on crypto regulation.
If relaunched, the JAC could help resolve jurisdictional uncertainties, particularly in cases where digital assets fall under both agencies’ purview.
Crypto regulatory efforts
The move aligns with a shifting regulatory landscape in which the SEC and CFTC appear more open to crypto-related discussions.
Recent actions from both financial regulators suggest a growing emphasis on structured policymaking rather than enforcement-first approaches.
The CFTC recently introduced a pilot program to explore tokenized non-cash collateral, such as stablecoins, within derivatives markets.
The agency also reorganized its Division of Enforcement to prioritize fraud prevention and investor protection.
On the other hand, the SEC’s new leadership is signaling a departure from Gary Gensler’s previous enforcement-heavy tactics. Under Commissioner Mark Uyeda, the agency has invited industry players to discuss crypto regulations.
Additionally, Commissioner Hester Peirce now leads a newly formed Crypto Task Force. Notably, Peirce has consistently emphasized the need for clear, predictable guidelines to eliminate legal uncertainty and reduce unnecessary obstacles hindering the sector’s growth.
These latest efforts focus on building a robust regulatory framework that fosters economic growth while maintaining market integrity.
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