The financial regulators of the United States are intensifying their discussions on how to regulate cryptography. Discussions have been made between the Basic Products Trade Commission (CFTC) and the Securities and Securities Commission (SECOND) Staff members with the aim of improving coordination.
Caroline Pham, the CFTC The commissioner confirmed the renewed conversations, highlighting the importance of a closer cooperation.
Through an X post, Fox Business Eleanor Terrett correspondent revealed Pham responses to the ongoing discussions.
A call to greater collaboration
CFTC and SEC have not been able to agree for a long time on how to handle digital assets. The former SEC president, Gary Gensler, launched application actions against several cryptographic companies. On the other hand, the CFTC has constantly argued a fairer approach. Pham’s comments imply a will to begin regular cooperation between the two regulatory bodies.
🚨neo: act @Cftc Chair @Cftcfam The @Secgov and @Cftc Employees are talking and participating in digital assets and other issues.
“We have restarted personnel conversations between CFTC and Sec. We would like to work together. We have worked well in the … pic.twitter.com/9wikzojwp
– Eleanor Terrett (@eleanorterrett) March 5, 2025
It is crucial to identify which government agency has authority on certain types of digital assets. Most cryptocurrencies are considered values by the SEC, but the basic products by the CFTC, including Bitcoin. This ongoing debate has created uncertainty in the industry, with insecure companies of what rules should be followed.
Image: SteelEye
Congress intervenes
Regulatory uncertainty has been the subject of the search for legislators’ solutions. In an effort to establish a joint advisory committee, representative John Rose recently presented the Bridge Digital Assets Law. The objective of the JAC is to offer guidance to the SEC and the CFTC with respect to their respective policies, regulations and rules with respect to digital assets.
“The United States must provide a future where digital assets can prosper,” said representative Rose. The current “regulation and regulation approach per application does not work,” said the congressman, and instead is encouraging investment in this important innovation abroad.
“The Joint Digital Assets Advisory Committee will provide a framework for the Government and private sector partners to cooperate in a path to the success of the regulatory panorama of digital assets and private sector participants,” Rose said.
BTCUSD trading at $92,068 on the daily chart: TradingView.com
Vague regulatory clarity
Clear guidelines for the cryptographic industry continue to be difficult, despite the renewed discussions. Pham recognized the need for greater predictability and transparency in regulatory processes. The industry continues to find compliance challenges and legal disputes in the absence of a structured framework.
“We have restarted personnel conversations between CFTC and Sec. We would like to work together. We have worked well in the past and I hope to return to the regular order, ”said Pham.
Meanwhile, critics of the heavy Application approach of the SEC have some industry actors who claim that stifling innovation. Some argue that rigorous control is absolutely necessary to protect investors against fraud and market handling. The open communication of the CFTC points to a possible change to a more cooperative regulatory model.
Anything can happen
It is unknown if the most recent conversations lead to real changes. Although the creation of the Joint Advisory Committee will need political support, it could be a first step towards a more unified approach. Until then, the cryptographic industry will continue to sail for regulatory uncertainty.
Night image of Gemini Image, TrainingView graphic
