From beincrypto by Kamina Bashir

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are discussing collaborating on regulating the crypto sector.

The talks follow significant leadership changes at both regulatory bodies under Donald Trump’s second term as President.

SEC, CFTC Join Hands For Crypto Regulation

Fox Business reporter Eleanor Terrett shared the news in a social media post on X (formerly Twitter).

“With digital assets becoming a top priority for regulators, the @SECGov and @CFTC are currently discussing ways in which they can effectively collaborate on #crypto regulation,” the post read.

According to Terrett, one proposal under consideration is the reinstatement of the charter for the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues.

The committee was created in 2010 by then CFTC Chairman Gary Gensler and SEC Chairman Mary Schapiro. It addressed various topics, including identifying emerging regulatory risks, evaluating their impact, and understanding their effects on investors and market participants. It also worked on aligning regulatory efforts between the agencies.

“The committee’s objectives and scope of activities shall be to conduct public meetings, to submit reports and recommendations to the CFTC and the SEC and otherwise to serve as a vehicle for discussion and communication on regulatory issues of mutual concern and their effect on the CFTC’s and SEC’s statutory responsibilities,” the charter detailed.

The committee was originally established to function for two years, with provisions for renewal. However, it became inactive in 2014. Acting CFTC Chair Caroline D. Pham advocated for its revival last year.

“I am looking forward to the future, and I hope that next year, both the CFTC and SEC will act to reinstate the charter for the CFTC-SEC Joint Advisory Committee on Emerging Regulatory Issues, which has been dormant for the past decade,” Pham said in a November GMAC meeting.

She emphasized that it would indicate a move toward a more collaborative regulatory approach in the US. It’s worth noting that this isn’t the first push for a collaborative effort between the SEC and the CFTC.