The U.S. SEC and CFTC have signed a memorandum of cooperation to jointly promote cryptocurrency regulation and the development of new products

The two major financial regulatory agencies in the United States, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), announced the signing of a Memorandum of Understanding (MOU) to strengthen collaboration on the regulation of crypto assets and the launch of new digital asset products, in order to support legitimate innovation and protect investors.

According to the statement from both parties, the MOU aims to "guide the coordination and cooperation between the two agencies," focusing on supporting legitimate innovation, maintaining market integrity, and ensuring investor and customer protection. The two agencies also plan to jointly promote the development of a federal-level policy framework to establish a "fit-for-purpose regulatory framework" for emerging technologies such as crypto assets. SEC Chairman Paul Atkins stated that the long-standing disputes over regulatory authority, redundant registration requirements, and differing regulatory rules between the SEC and CFTC have somewhat stifled innovation and prompted some market participants to turn to other jurisdictions.

According to the MOU, the two agencies will also coordinate to address regulatory obstacles that hinder the legitimate launch of new financial products, including those related to crypto assets. Although MOUs typically do not have legal binding force, the market generally views the SEC and CFTC's formal commitment to enhance policy coordination as a positive signal for the digital asset industry. CFTC Chairman Michael Selig stated that the reason the U.S. financial markets lead globally is their ability to continuously adapt to investor needs, and the regulatory system must evolve in tandem to achieve more unified and comprehensive market regulation.