The U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are working together to coordinate digital asset regulation, Cointelegraph reported on Jan. 29 local time.
CFTC Chairman Michael Selig (마이클 셀릭) announced that the CFTC will also participate in the SEC-led 'Project Crypto'. Cointelegraph said the cooperation is intended to increase clarity in digital asset regulation and reduce overlapping regulation.
Selig said, "Regulatory fragmentation causes real economic costs, raises barriers to entry and undermines competition." He stressed, "The CFTC will work with the SEC to coordinate regulatory requirements and achieve market harmonisation." The cooperation is focused on reducing unnecessary regulatory overlap, not blurring legal boundaries.
Selig said, "The two agencies will modernise and coordinate their regulatory approaches to prepare for future markets."
Chi-gyu Hwang
delight@d-today.co.kr