Regulatory turf wars over crypto may soon end—SEC and CFTC are reviving their joint committee to streamline oversight. The move comes amid increasing scrutiny of digital assets and industry calls for clearer oversight.
Fox Business journalist Eleanor Terrett reported that both agencies are discussing reinstating the CFTC-SEC joint advisory committee, which was originally established in 2010 to address emerging regulatory challenges.
Eleanor Terrett on SEC and CFTC. Source: X
The committee has been inactive since 2014, leaving a gap in coordinated oversight. Acting CFTC Chair Caroline D. Pham advocated for reviving the committee last year, calling it a significant step toward fostering a more cooperative regulatory approach to digital assets.
Reinstating the Joint Advisory Committee
Joint Advisory Committee of CFTC and SEC. Source: Eleanor Terret on X
The potential reinstatement of the CFTC-SEC joint advisory committee could provide a structured framework for addressing regulatory gaps in the rapidly evolving cryptocurrency sector. Initially formed in response to the 2008 financial crisis, the committee was designed to harmonize financial regulations and identify emerging risks impacting both markets and investors.
As crypto markets continue to expand, the absence of a unified regulatory approach has fueled uncertainty. SEC Commissioner Hester Peirce, known for her pro-crypto stance, has been a vocal advocate for clearer and more collaborative oversight. In a social media post, Peirce expressed optimism about the renewed dialogue, stating, “Looking forward to more SEC-CFTC cooperation. Last time it was Dodd-Frank Title VII. This time, crypto.”
Industry leaders hope that a revived advisory committee will bridge regulatory gaps between the two agencies, particularly regarding jurisdiction over different digital asset classifications. Historically, the SEC has treated cryptocurrencies as securities, while the CFTC considers them commodities—a distinction that has led to regulatory conflicts and legal battles.
Leadership and Industry Reactions
The recent appointment of Brian Quintenz, former a16z crypto policy chief, as the new CFTC chair has added momentum to these discussions. Quintenz has been a strong proponent of blockchain innovation and sees the CFTC playing a vital role in ensuring that the U.S. remains at the forefront of digital asset development.
In a statement following his appointment, Quintenz emphasized the agency’s responsibility in fostering robust markets. “The CFTC plays a critical role in maintaining hedging and price discovery markets that are the envy of the globe. The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation,” he said.
Meanwhile, speculation is mounting over who will lead the SEC moving forward. While acting SEC Chair Mark Uyeda currently oversees operations, the crypto community is hopeful that Paul Atkins, a known advocate for blockchain technology, will be appointed as the next SEC chair. Atkins, a board member of Securitize, has previously supported regulatory frameworks that encourage blockchain adoption.
