Regulators Unite to Fix U.S. Crypto Chaos, Boost Global Edge

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced a joint roundtable on September 29, 2025, aimed at fostering regulatory harmonization in the digital asset sector. This initiative, part of a broader effort to align the agencies’ frameworks, seeks to address long-standing challenges in the market, including fragmented oversight, regulatory uncertainty, and inefficiencies that have historically hindered innovation and driven activity overseas. In a joint statement issued on September 5, 2025, SEC Chairman Paul S. Atkins and CFTC Acting Chairman Caroline D. Pham emphasized the importance of coordinated action in reducing market barriers, enhancing efficiency, and reinforcing the United States’ position as a global financial leader [1].

The roundtable will be held at the SEC headquarters in Washington, D.C., and will be open to the public with live webcasting. Attendees can register for in-person participation, subject to security protocols. The event is expected to feature discussions on key areas of regulatory alignment, including the harmonization of product and venue definitions, streamlining reporting standards, aligning capital and margin requirements, and creating coordinated innovation exemptions. These measures are designed to create a more coherent and competitive market environment, particularly for digital assets like Ethereum, Bitcoin, and decentralized finance (DeFi) protocols [2].

Among the specific topics under consideration are the expansion of trading hours to better align with the 24/7 nature of global financial markets, particularly in crypto and foreign exchange. Regulators noted that certain markets already operate continuously, and extending trading windows could improve liquidity and investor access while maintaining necessary protections. Another focus will be on prediction markets, where the agencies aim to clarify rules for event contracts and assess how these products can be made available to U.S. market participants [3]. Perpetual contracts, which are currently more prevalent in offshore markets, will also be addressed, with a view to onshoring compliant versions that meet investor protection standards and offer greater transparency [4].

Portfolio margining is another area of potential coordination between the SEC and CFTC. By developing a unified approach to margin requirements, the agencies aim to reduce capital inefficiencies and allow market participants to net exposures across different asset classes. This could lead to lower capital lock-up, increased liquidity, and more efficient cross-market strategies. The agencies also plan to explore exemptions that could facilitate peer-to-peer trading on DeFi platforms without compromising investor protections. These exemptions would allow for innovation in decentralized finance while ensuring a structured and secure environment for market participants [5].

The joint roundtable represents a pivotal step in the agencies’ efforts to create a more unified and effective regulatory environment for digital assets. By working collaboratively, the SEC and CFTC aim to address previous shortcomings in regulatory clarity and coordination, which have limited the growth of innovative financial products in the United States. The event builds on the recommendations of the President’s Working Group on Digital Asset Markets, which called for a regulatory framework that supports innovation while safeguarding investors and maintaining market integrity [6]. As the agencies move forward, the outcomes of the roundtable could shape the future of digital asset regulation and influence the competitive landscape of global financial markets.

Source:

[1] SEC and CFTC Issue Joint Statement on Regulatory Harmonization Efforts (https://www.sec.gov/newsroom/press-releases/2025-112-sec-cftc-issue-joint-statement-regulatory-harmonization-efforts-will-co-host-roundtable-sept-29)

[2] SEC-CFTC Joint Roundtable Sept 29 2025 (https://www.sec.gov/newsroom/meetings-events/sec-cftc-joint-roundtable-sept-29-2025)

[3] Joint Statement from the Chairman of the SEC and Acting Chairman of the CFTC (https://www.sec.gov/newsroom/speeches-statements/joint-statement-atkins-pham-090525)

[4] SEC and CFTC Aim to Harmonize Crypto Rules (https://cryptoslate.com/sec-and-cftc-aim-to-harmonize-crypto-rules-boost-us-market-leadership/)