SEC and CFTC are “harmonized” to regulate defi, crypto and foster financial innovation

By Hannah Pérez

The US regulators, SEC and CFTC, will leave their dispute in the past and align their policies for the regulation of financial markets, starting with cryptocurrencies, defi, predictive markets. They announced a collaborative effort today.

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• The US regulators, SEC and CFTC issued a statement about a new collaborative effort.
• Both will leave their differences in the past to align in the regulation of financial markets.
• They will focus on cryptocurrencies, Defi, predictive markets and other areas.
• It is part of the crypto regulation initiatives in response to the Recommendations of the White House.

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The two main financial regulators of the United States are leaving behind their long -standing disagreements to work in alliance in the regulation of the cryptocurrency market.

In a joint statement this Friday, the stock exchange and values ​​commission (SEC) and the United States Basic Product Future Trade Commission (CFTC) announced an effort to harmonize their regulations, with a special focus on cryptocurrencies, decentralized finance (DEFI), prediction markets and perpetual contracts.

The initiative seeks to provide regulatory clarity, promote innovation and position the US as a global leader in financial markets, according to a joint statement issued by both agencies.

“It is a new day for the SEC and the CFTC, and today we begin a long -awaited trip to provide the markets with the clarity they deserve ”declared the president of the SEC, Paul S. Atkins, and the interim president of the CFTC, Caroline D. Pham.

When working in tune, our two agencies can take advantage of the unique regulatory structure of our nation as a source of strength for market participants, investors and all Americans.

Key areas of harmonization effort

In a CFTC publication this Friday, both agencies highlighted their intention to harmonize their definitions of products and negotiation places, simplify data and report standards, align capital frameworks and margins and establish coordinated exemptions to promote innovation, using the existing authority of each agency.

The statement details in this regard several priority areas for the regulatory harmonization effort, starting with the exploration of the possibility of expanding 24/7 market negotiation schedules, in response to global nature and without market pause such as those of cryptocurrencies, currencies and gold.

Other aspects to be evaluated will be the contracts of events and prediction markets, which have gained popularity among retail investors in recent times and decentralized or defi markets.

In the statement, the regulators pointed out their intention to seek clarity for innovators of prediction markets for their list on regulated platforms and their opening to consider “Innovation exemptions”To create safe environments that allow pairs for pairs for defi protocols. Other areas of discussion will be perpetual contracts and margins.

No more wars between the SEC and the CFTC

The announcement marks a significant change in the regulatory position of the two entities, which have historically maintained divergent approaches, especially in the field of digital assets. Under the previous administration of Gary Gensler, the SEC adopted a strict position, classifying most cryptocurrencies as values ​​and chasing companies in the sector with compliance actions.

However, the arrival of the Donald Trump administration, with its pro-writing vision, has promoted a change of course. Both agencies are now aligning their policies with the aim of converting the US. “World Crypto Capital”.

During a call with the press on Friday, Atkins and Pham emphasized their commitment to leave behind the “Territorial Wars”That they have characterized the relations between the SEC and the CFTC in the past. “It’s time to set aside disputes and really collaborate ”ATKINS said, highlighting the role of self -regulatory organizations in market supervision.

For its part, Pham said that the CFTC does not require additional personnel to fulfill its mandate, thanks to the consolidation of activities that maximize productivity, according to a report of COINDESK. “We are doing a great job with all our initiatives and we hope to continue collaborating with the SEC“He said.

Joint round table

To advance these priorities, the SEC and the CFTC will organize a joint round table on September 29, from 1 pm to 5 pm, at the SEC headquarters in Washington, of the event will be open to the public, it will be broadcast live on the SEC website and will have a previous record for face -to -face assistants. The agenda and participants will be announced soon.

A promising future for financial innovation

The collaboration between the SEC and the CFTC is part of their respective initiatives, “Project Crypto” of the SEC and “Crypto Sprint” of the CFTC, designed with the intention of modernizing the supervision of the markets while the innovation is encouraged, in line with the recommendations of the President’s work group on the president’s work group on digital asset markets.

At the beginning of this week, the agencies took an important step by clarifying that the platforms registered in the US. Uu. They can offer cryptocurrency trade in cash, which represents a significant advance for the sector. This decision responds to the need to reverse the regulatory uncertainty of the last years that pushed companies and talents crypto foreign jurisdictions.

The regulatory harmonization initiative seeks not only to clarify the rules, but also restore investors’ confidence, strengthen US competitiveness. In financial innovation and reduce the risk of regulatory arbitration.

As Atkins and Pham pointed out, the goal is that “The next chapter of financial innovation is written here in America“

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Article written with the help of AI, edited by Diariobitcoin

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