SEC and CFTC Align Regulations to Strengthen U.S. Market Competitiveness

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) will hold a joint roundtable on September 29, 2025, from 1:00 p.m. to 5:00 p.m. Eastern Time at the SEC’s headquarters in Washington, D.C. The event aims to address regulatory harmonization priorities between the two agencies, a move the regulators describe as critical to reducing market fragmentation and enhancing U.S. capital markets’ global competitiveness. The roundtable will be open to the public for in-person attendance, with registration required, and will be webcast live via the SEC’s website.

The joint effort follows a September 2025 statement from SEC Chairman Paul S. Atkins and CFTC Acting Chairman Caroline D. Pham, who emphasized the need for coordinated regulatory frameworks to eliminate “regulatory no man’s lands” and align product definitions, reporting standards, and capital requirements. The statement noted that the SEC and CFTC have already clarified that registered exchanges are not prohibited from facilitating spot crypto asset trading, a step toward resolving jurisdictional overlaps. The agencies highlighted the importance of harmonizing definitions for products such as event contracts and perpetual contracts, as well as addressing operational challenges like portfolio margining and decentralized finance (DeFi) integration.

The roundtable’s agenda will focus on specific areas of regulatory alignment, including the expansion of trading hours to align with global markets. For instance, the agencies will explore the feasibility of extending U.S. trading hours to match the 24/7 nature of crypto markets, a practice already common in foreign exchange and gold trading. Factors under consideration include operational feasibility, liquidity, and investor protections. The discussion will also address innovation exemptions, such as coordinated approaches to regulatory sandboxes, leveraging each agency’s existing exemptive authority.

The joint initiative reflects broader efforts to modernize U.S. financial regulation in response to rapid technological advancements. By streamlining cross-agency frameworks, the SEC and CFTC aim to reduce compliance burdens for market participants while fostering innovation. The agencies cited the need to “harness the nation’s unique regulatory structure into a source of strength,” as stated in their joint statement, and to create a unified approach to emerging asset classes like crypto. This aligns with recent actions, such as the SEC’s approval of in-kind creation and redemption processes for crypto exchange-traded products (ETPs), which improve liquidity and reduce transaction costs.

The event’s significance is underscored by the participation of major exchange operators and industry leaders, who will provide insights into practical challenges and opportunities. The roundtable will also address the role of DeFi in shaping future market structures, a sector that has faced regulatory uncertainty due to its decentralized nature. By engaging stakeholders, the agencies aim to ensure that regulatory frameworks remain adaptable to technological evolution while maintaining investor safeguards.

Registration for in-person attendance is available through the SEC’s event webpage, with attendees subject to security checks. A recording of the roundtable will be posted on the SEC’s website after the event. The agencies have not yet disclosed the full list of participants but emphasized that the discussion will be publicly accessible, reflecting their commitment to transparency.

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

[2] Crypto: SEC and CFTC Announce Harmonization Efforts, Joint … (https://www.thecorporatecounsel.net/blog/2025/09/crypto-sec-and-cftc-announce-harmonization-efforts-joint-roundtable.html)

[3] SEC-CFTC Joint Roundtable on Regulatory Harmonization Efforts (https://www.sec.gov/newsroom/meetings-events/sec-cftc-joint-roundtable-sept-29-2025)

[4] CFTC and SEC to Host a Joint Roundtable on Regulatory … (https://www.cftc.gov/PressRoom/Events/opaeventcftcsec092925)

[5] SEC Approves In-Kind Creation and Redemption Processes for Crypto ETFs (https://www.sec.gov/newsroom/press-releases/2025-101-sec-permits-kind-creations-redemptions-crypto-etps)