Executives from several cryptocurrency companies will participate in a panel discussion next week to explore the "regulatory coordination efforts" between the two major financial regulatory agencies in the United States.
The U.S. Securities and Exchange Commission (SEC) announced on Wednesday that it will co-host a roundtable with the Commodity Futures Trading Commission (CFTC) on Monday as part of the financial regulatory coordination efforts, including cryptocurrency regulation. Representatives from cryptocurrency exchanges Kraken and Crypto.com, as well as prediction markets Kalshi and Polymarket, will participate in the panel discussion.
Although the focus is on regulatory coordination between the two agencies, the roundtable will take place amid a significant leadership vacuum at the CFTC. This year, every commissioner of the financial regulatory agency has resigned or left, with the exception of acting chair Caroline Pham. Former CFTC chair J. Christopher Giancarlo and former commissioner Jill Sommers will moderate the panel discussion on Monday.
As the roundtable discussion takes place, lawmakers are considering legislation to establish a digital asset market structure in the U.S., which could clarify the roles of the SEC and CFTC in regulating cryptocurrencies. Although the U.S. House of Representatives passed its version of the market structure bill, the CLARITY Act, in July, the Senate has yet to vote on related legislation.
Cointelegraph reached out to Giancarlo for comments on the roundtable, but had not received a response by the time of publication.
Since U.S. President Donald Trump took office in January, leading to the departure of former SEC chair Gary Gensler and former CFTC chair Rostin Behnam, both financial regulatory agencies have advanced policies favorable to the cryptocurrency industry.
On the SEC side, the agency has withdrawn several investigations and enforcement actions—some of which have been ongoing in court for years—against cryptocurrency companies including Coinbase, Ripple Labs, and Kraken. Last week, the regulator approved general listing standards that could expedite the approval process for cryptocurrency exchange-traded funds (ETFs).
At the CFTC, the situation is similar. Although four of the five commissioners will leave by 2025, the agency appointed several cryptocurrency executives to its Global Markets Advisory Committee in September and has been exploring allowing tokenized assets, including stablecoins, to be used as collateral in the derivatives market.
Related: Paul Atkins: U.S. SEC considers "innovation exemptions" to expedite digital asset product approvals
Original article: “Executives from Kraken and Crypto.com to Attend SEC-CFTC Roundtable to Discuss 'Regulatory Coordination Efforts'”
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