Key Highlights

• The SEC and CFTC signed a Memorandum of Understanding to coordinate oversight, information-sharing, and policymaking, including on crypto assets and other emerging technologies. 

• The agencies said the pact is aimed at supporting lawful innovation, market integrity, and investor/customer protection while reducing duplicative regulatory burdens.

• The SEC and CFTC also announced a Joint Harmonization Initiative to coordinate policy, examinations, and enforcement in overlapping areas, including joint applications and shared policy work. 

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) said they have signed a new Memorandum of Understanding to formalize closer coordination between the two agencies on market oversight and rulemaking, with crypto assets explicitly included in scope. 

In their announcements, the agencies said the MOU is intended to guide collaboration to “support lawful innovation,” uphold market integrity, and strengthen investor and customer protections, while applying what the SEC described as a “minimum effective dose” of regulation to keep U.S. markets competitive.

SEC Chair Paul Atkins said the agreement is meant to reduce friction created by overlapping jurisdictions, including duplicative registration and inconsistent requirements that can slow product development. CFTC Chair Michael Selig said the goal is more seamless oversight and fewer gaps or duplicative rules as markets and trading models evolve. 

Alongside the MOU, the SEC and CFTC said they are launching a Joint Harmonization Initiative to align work across policymaking, examinations, and enforcement. The agencies said priority areas include coordinated interpretations, modernizing clearing and margin rules, streamlining reporting, reducing frictions for dually registered entities, and building a “fit-for-purpose” framework for crypto assets and other emerging technologies.