None
EN
SEC and CFTC signal execution phase for crypto regulation at harmonization meeting
['Adewale Olarinde', 'Olayiwola Dolapo', 'Ritika Gupta', 'Benjamin Njiri', 'Vivaan Acharya', 'Adewale Is A Full-Time Journalist At Ambcrypto. While He Is Increasingly Fascinating The World Of Blockchain', 'Cryptocurrencies', "Adewale Holds A Degree In International Relations. Besides Working On Insightful Articles That Touch Upon The Crypto-Space'S Hottest Issues", 'He Finds Joy In Supporting Manchester United', 'Afrobeat Music.']
AMBCrypto
US financial regulators signalled a shift from coordination to execution on crypto oversight on Thursday, 29 January.
Senior officials from the Securities and Exchange Commission [SEC] and the Commodity Futures Trading Commission [CFTC] outlined plans to advance joint rulemaking using existing authority.
Regulators move beyond coordination rhetoricSpeaking at the event, Michael S. Selig said the CFTC would begin exercising oversight of the crypto market without waiting for Congress to finalize market structure legislation.
Selig said the CFTC would work jointly with the SEC on “Project Crypto.” This is a framework aimed at harmonizing oversight across agencies.
Selig added that CFTC staff have been instructed to work with their SEC counterparts on the joint codification of a crypto asset taxonomy as an interim measure.