SEC Chair Says Crypto A Top Priority As CFTC Says Turf War Over

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US regulators have ended the crypto conflict, with SEC Chair Paul Atkins nominating the digital assets and naming them as the agency’s top priority, and CFTC deputy Caroline Fam declares “the turf war is over.”

Bank of America, jointly speaking with Kraken executives at the SEC-CFTC roundtable at the Atkins He warned that if regulators do not establish a clear regulatory framework for crypto, the United States risks losing its competitiveness.

He also said fragmented rules pushed crypto companies offshore and created overlapping regulations.

“It’s a new day and the war on the grass is over,” Fam said. ”Since we both oversee related parts of the financial market, there is no doubt that the regulatory lanes of the two institutions are not always clear or intuitive. Sometimes this led to unnecessary friction between the two institutions and avoidable headaches for market participants who rely on us. ”

Cryptographic round tableCryptographic round table

Crypto roundtable hosted by SEC and CFTC (Source: X)

The US regulatory dispute is coming to an end, says Atkins

Atkins also said Regulation uncertainty is coming to an end. This has led the SEC and CFTC to work together to create a regulatory framework for US digital assets that promote innovation and protect investors.

Both the SEC and the CFTC have already received recommendations from the White House Working Group on how to regulate digital assets. The agency has since started implementing some of its recommendations.

For example, the CFTC launched its “Crypto Sprint” initiative earlier this year. This is based on recommendations received.

Similarly, Atkins announced the SEC’s “Project Crypto” initiative in July. This is trying to facilitate licensing requirements for crypto companies. In addition to this, the SEC has recently approved generic list rules for Crypto ETF filing, and is expected to streamline the process and launch an ETF tsunami, according to analysts.

Both the CFTC and the SEC are working together to prevent a scenario in which the rulebook is re-created for Crypto.

Ripple Clo urges our lawmakers to finish their work

Ripple Chief Legal Officer (CLO) Stuart Aldeoty He urged lawmakers to “finish work with clarity of the code.”

Write in an op-ed Published on RealClearMarketse said digital assets are no longer niche segments, but rather are an important part of the economic lives of millions of Americans.

He referenced a Chain melting report It estimated that Americans traded more than $1 trillion in digital assets in 2024. He added that about two-thirds of Americans also lack confidence that policymakers understand the code or its impact on daily life.

As adoptions grow, he said the window of opportunity for U.S. regulators to establish clear rules for roads and the US is rapidly closing down to maintain competitiveness in the crypto space.

“Without clear and consistent rules, consumers will remain exposed, responsible innovators face uncertainty and the US risks giving leadership over to global competitors who are moving faster to provide regulatory clarity,” he wrote.

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