Will SEC Chair Take CFTC Helm in Push for Unified Crypto Rules?

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are set to host a joint roundtable on September 29, 2025, marking a pivotal step toward resolving longstanding regulatory ambiguities in the crypto and digital asset sectors. The event, scheduled from 1:00 PM to 5:00 PM ET, aims to foster collaboration between the two agencies on harmonizing oversight of financial products, including prediction markets, which have seen rapid growth and regulatory overlap. The roundtable, open to in-person attendees and webcast, underscores the Biden administration’s efforts to address fragmented jurisdictional boundaries that have historically muddied enforcement and compliance in the crypto space Kraken, Crypto.com execs to attend SEC-CFTC …^[4].

The meeting will feature participation from key figures in both traditional finance (TradFi) and the crypto industry. Panelists include executives from Kraken, Polymarket, and Nasdaq, alongside representatives from the International Swaps and Derivatives Association (ISDA) and the Securities Industry and Financial Markets Association (SIFMA). The agenda emphasizes defining clearer roles for the SEC and CFTC to prevent future clashes over jurisdiction, particularly in areas like prediction markets and tokenized assets. For instance, Polymarket recently expanded its offerings to include trades on listed companies’ earnings, a move that straddles traditional securities and crypto markets .

A central focus of the roundtable is the regulatory treatment of prediction markets, which have gained traction as tools for forecasting economic and political outcomes. SEC Chair Paul Atkins and Acting CFTC Chair Caroline Pham highlighted in a joint statement that such markets “require clarity for innovators seeking to list event contracts responsibly.” They emphasized the need for agencies to collaborate on determining where event contracts might be made available to U.S. market participants, regardless of jurisdictional lines SEC and CFTC Team Up For New Pro-Crypto Push^[5]. This aligns with broader efforts to streamline oversight and reduce legal uncertainty for market operators and investors.

The roundtable also reflects shifting priorities under the Trump administration, which has prioritized a pro-crypto agenda since January 2025. Both the SEC and CFTC have signaled a more permissive approach to digital assets, including relaxed enforcement against crypto firms and the exploration of stablecoins as collateral in derivatives markets. For example, the SEC recently approved generic listing standards for crypto ETFs, accelerating approvals for products like Bitcoin and Ethereum exchange-traded funds . The CFTC, meanwhile, has appointed crypto company executives to advisory committees and reduced enforcement actions against platforms like Polymarket .

However, the event occurs amid leadership transitions at the CFTC, which now operates with only one commissioner—Acting Chair Pham—after all other commissioners resigned or departed in 2025. This has raised questions about the agency’s capacity to engage in complex regulatory discussions. Speculation persists about whether SEC Chair Atkins might also assume the CFTC chair role, a move that could further consolidate oversight under a single regulatory framework. While legal prohibitions on dual roles remain debated, White House lawyers may argue such a shift is permissible under current statutes SEC and CFTC Team Up For New Pro-Crypto Push^[5].

The joint roundtable signals a broader push to position the U.S. as a global leader in crypto innovation while balancing investor protection. By bringing together regulators, TradFi leaders, and crypto innovators, the agencies aim to establish a unified approach to emerging financial products. Yet challenges remain, including reconciling divergent enforcement priorities and ensuring safeguards against market abuses. As the session unfolds, stakeholders will watch closely for concrete steps toward a cohesive regulatory strategy in the rapidly evolving digital asset landscape.