Regulators Align Crypto Rules to Shield U.S. Innovation Lead

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have dismissed speculation about a merger between the two agencies, emphasizing instead a coordinated effort to harmonize regulatory oversight of digital assets. SEC Chair Paul S. Atkins clarified during a joint roundtable event on September 29 that the focus remains on “harmonization, not a merger,” addressing longstanding rumors that have resurfaced with each new administration ‘Harmonization, Not Merger’: SEC Chair Paul Atkins Shuts Down …^[2]. The roundtable, the first of its kind in 14 years, brought together industry leaders, policymakers, and crypto firms to align regulatory frameworks and address gaps in digital asset oversight US regulators dismiss SEC-CFTC merger rumors, move to^[3].

The event marked a shift from years of fragmented oversight, with Atkins stating that the SEC and CFTC aim to “pave a unified path forward” to ensure U.S. leadership in financial innovation ‘Harmonization, Not Merger’: SEC Chair Paul Atkins Shuts Down …^[2]. Acting CFTC Chair Caroline Pham echoed this, asserting that the agencies are “working in lockstep” to streamline reporting, align capital requirements, and reduce barriers to innovation under existing laws US regulators dismiss SEC-CFTC merger rumors, move to^[3]. The collaboration includes three panels examining regulatory coordination for platforms, participants, and digital asset services, featuring speakers from Nasdaq, CME Group, Kraken, and other major players ‘Harmonization, Not Merger’: SEC Chair Paul Atkins Shuts Down …^[2].

Central to the discussion was the need to dispel “fear, uncertainty, and doubt” (FUD) surrounding crypto regulation. Pham highlighted the CFTC’s enforcement actions since January 2025, including 18 non-enforcement measures and 13 enforcement cases involving digital assets, to demonstrate the agency’s active engagement US regulators dismiss SEC-CFTC merger rumors, move to^[3]. Atkins emphasized that regulatory clarity is critical to prevent financial innovation from “moving offshore,” a risk he described as “a new chapter” for U.S. markets ‘Harmonization, Not Merger’: SEC Chair Paul Atkins Shuts Down …^[2]. The joint statement from Atkins and Pham underscored the importance of harmonizing definitions, capital rules, and innovation exemptions to foster a competitive environment .

The agencies also advanced legislative efforts to formalize their collaboration. The SEC and CFTC are prioritizing the Crypto Assets Market Structure Act, with the White House setting a target for President Trump to sign the bill by year-end 2025 ‘Harmonization, Not Merger’: SEC Chair Paul Atkins Shuts Down …^[2]. Atkins cited the GENIUS Act—passed earlier this year—as a model for bipartisan progress, while Pham highlighted the CFTC’s “crypto sprint” to implement recommendations from the President’s Working Group on Digital Asset Markets Joint Statement from the Chairman of the SEC and Acting …^[6]. The legislation aims to clarify roles between the SEC and CFTC, particularly in overseeing stablecoins and tokenized collateral, with the CFTC launching initiatives to integrate stablecoins into derivatives markets Joint Statement from the Chairman of the SEC and Acting …^[6].

The joint roundtable comes amid broader efforts to address crypto-related regulatory uncertainty. The CFTC’s recent actions include permitting offshore exchanges to serve U.S. customers under its “crypto sprint” framework and enabling spot crypto asset contracts on registered futures exchanges . Meanwhile, the SEC’s “Project Crypto” and the CFTC’s initiatives are designed to create a regulatory environment that balances investor protection with innovation . These steps align with industry calls for a unified approach to prevent the U.S. from ceding ground to other jurisdictions in the rapidly evolving digital asset landscape Trump Weighs New CFTC Chair Picks As Quintenz Stalls^[8].