The American Commission for Securities and Exchange (SECOND) and commodity future trading commission (CFTC) Plan to hold a joint round table as a next step in their efforts to make American markets more user -friendly to financial companies, including cryptographic companies.
The agencies – the president of the SEC, Paul Atkins, and the acting president of the CFTC, Caroline Pham – announced a joint round table for later this month to discuss the prediction markets, decentralized finances and 24/7 exchanges on the traditional financial markets, among other questions. The agencies also published a joint declaration describing their thrust for a “greater harmonization” between the two agencies.
“It’s time to leave the lawn aside and really collaborate,” Atkins said during a press call on Friday morning.
During the previous administration, the two agencies sometimes disagreed on the crypto police, even if their leaders were both democrats appointed by former president Joe Biden. Gary Gensler, the former head of the Sec, set up like a cryptographic antagonist, taking legal action companies and refusing to move forward on complex cryptography regulations, while the president of the CFTC, Rostin Behnam, was marginally more open to conversations with the industry.
For example, the two agencies adopted distinct positions on which cryptographic assets were titles and which were basic products, including the Ethereum eth, which both seemed to claim under their jurisdictions at different times.
During the Friday call, Atkins and Pham presented a new united front, because the two said they were trying to bring back the innovators of the courts abroad and to set up to supervise the modern markets and 24 hours a day.
‘Maximum productivity’
Questioned by Coindesk if the regulator had the resources for the police 24/7 trading, as the agencies suggested in their joint declaration, Atkins stressed self -regulation organizations such as entities that would take most of the work.
“It is the markets themselves, the SROs who are responsible for looking at the exchanges on their own platforms,” he said. “And therefore obviously, so we have other ways to follow what is going on and [we] depend on their alert. “”
Atkins threw a question of follow -up on a possible SRO for the cryptographic industry in the congress, claiming that the agency was involved in the legislation on the structure of the market which was currently advancing through the legislature.
Pham, who supervised the CFTC while the Senate candidate makes President Donald Trump think, Brian Quintenz, said that the agency did not need additional staff to continue its mandate to supervise the non-security markets.
“By consolidating many agency activities, we are in fact better able to have productivity and maximum capacity available,” she said. “We are doing very well with all our initiatives, and we can’t wait to continue working with the dry.”
Read more: The short-term agenda of the ATKINS of the Assie of the United States.
