Overview
- At a September 29 joint roundtable in Washington, SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham pledged closer cooperation on digital assets, calling it “a new day,” and both rejected any plan to merge the agencies.
- Officials said the harmonization work will focus on jurisdictional tests, exchange listings and supervision, data‑sharing and surveillance, and treatment of tokenized collateral and stablecoins for margin and settlement.
- Atkins reiterated that the SEC is preparing an innovation exemption aimed at easing certain crypto product launches, with a target to outline the approach by year‑end 2025.
- Building on joint staff views issued September 2, which said registered exchanges are not barred from facilitating certain spot crypto products, the SEC on September 18 approved generic listing standards that let Nasdaq, Cboe BZX, and NYSE Arca list spot crypto ETPs through a streamlined process.
- Pham highlighted the CFTC’s active posture with 18 actions, including 13 enforcement cases through September 3, and the commission’s request for comment on using stablecoins and other tokenized assets as eligible collateral in derivatives markets.