CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement

The U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have entered what officials are calling a “new era of collaboration.” This is to bring regulatory clarity to the crypto market. Acting CFTC Chair Caroline Pham said the agencies are now focused on harmonization rather than competition, ending what she described as years of “regulation by enforcement.”

CFTC Outlines Aggressive Plan to Make US World’s Crypto Capital

Speaking with Fox Business, Pham said the joint effort aims to make the United States the global capital for crypto innovation. The plan also includes introducing listed spot crypto trading on one of the agency’s futures exchanges by the end of the year.

She revealed that the CFTC Crypto Sprint is in the middle of its 12-month plan. This is to implement recommendations from the President’s Working Group on digital assets. Pham added that the CFTC will also issue guidance on tokenized collateral, including stablecoins, before the year closes.

Next year, the agency will propose technical amendments to rules covering collateral, margin, clearing, and settlement. These changes aim to integrate blockchain technology into the existing regulated financial system.

“We’ve ended the regulatory desert,” Pham said, describing how the administration’s coordinated approach has attracted crypto businesses back to the U.S. “They want to build, hire, and invest here again because we now have clarity.”

SEC and CFTC Forge New Cooperative Path for Crypto

The new cooperation comes after SEC Chair Paul Atkins rejected becoming CFTC chair, dismissing the idea of merging the two regulators. Instead, he emphasized that the focus should be on coordination. Atkins said that regulatory turf wars had delayed innovation for years, noting failed efforts like single-stock futures due to unclear jurisdiction.

Pham agreed, calling the partnership a return to “regular order” and a chance to give markets certainty. She said both agencies will jointly address issues like portfolio margining, outdated financial rules, and innovation exemptions for blockchain and digital assets.

The CFTC’s new crypto roadmap, combined with the SEC’s harmonization push, marks a major shift in Washington’s tone toward digital assets. Their coordinated approach reflects growing alignment on enabling regulated spot crypto trading in the U.S.

For years, crypto firms have complained about unclear rules and punitive enforcement actions. The new initiative signals a departure from that approach toward a structured, cooperative framework.

Crypto Firms Expand in US Following Regulatory Clarity

Pham said the clarity has already begun to show results. Several crypto firms that once planned to move offshore are now expanding in New York and on the West Coast. “This is what happens when you replace uncertainty with commitment,” she said.

With the agencies now aligned, the U.S. market could soon see its first fully regulated spot crypto trading environment, reshaping how institutional investors engage with digital assets.