New Bill Could Force Rivals SEC, CFTC To Cooperate For Streamlined Crypto Regulation

Regulatory clarity remains an issue in the U.S. crypto space, especially with two regulators duking it out on who should have jurisdiction over the emerging sector. (Credit: Traxer/Unsplash)

KEY POINTS

• Rep. Rose said he hopes a Joint Advisory Committee will pave the way toward a regulatory framework
• He noted how the current enforcement-first approach to regulation 'isn't working'
• The SEC and CFTC have been on a turf war over which regulator should have oversight of digital assets

A new proposed legislation may see the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) cooperating on digital asset regulations instead of bickering about who should regulate the burgeoning sector.