SEC and CFTC Work Together to Align Digital Asset Rules, Striving for Both Innovation and Investor Safety

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have scheduled a joint roundtable for September 29, 2025, to discuss regulatory alignment in the digital asset sector. Taking place at the SEC’s headquarters in Washington, D.C., the meeting aims to synchronize regulatory approaches to encourage innovation while safeguarding investors. SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham highlighted the importance of working together to close regulatory gaps and provide greater clarity for the market. The agenda includes panels on the evolution of regulatory frameworks, harmonizing trading platforms, and reforms centered on market participants title1 [ 1 ].

The joint statement identified key goals such as unifying definitions for products and trading venues, simplifying reporting requirements, and coordinating capital and margin standards. The agencies also suggested evaluating the possibility of extending U.S. trading hours to better reflect the global, round-the-clock nature of digital asset markets, as long as operational integrity and investor safety are preserved title2 [ 2 ]. The discussion will also cover the potential introduction of perpetual derivative contracts on regulated U.S. exchanges and the adoption of portfolio margining systems to improve capital efficiency through cross-product risk offsetting title3 [ 3 ].

Industry representatives from both traditional finance and crypto sectors, such as Nasdaq,

, Kraken, and Polymarket, will participate in the roundtable. The panels will explore how regulatory harmonization could generate economic benefits for trading platforms and lower expenses for investors. For example, portfolio margining changes could release additional capital for institutions, and innovation exemptions might allow peer-to-peer trading through DeFi protocols under specific regulatory conditions title4 [ 4 ].

This collaborative initiative follows a statement issued on September 2, clarifying that exchanges registered with the SEC and CFTC are permitted to facilitate spot trading of crypto commodity products. This move is consistent with broader efforts such as the SEC’s Project Crypto and the CFTC’s Crypto Sprint, both of which aim to implement recommendations from the President’s Working Group on Digital Asset Markets. The agencies also reiterated their support for foreign board of trade (FBOT) registrations, which allow overseas exchanges to serve U.S. clients under CFTC supervision title5 [ 5 ].

As the U.S. strives to maintain its leadership in financial innovation, regulatory coordination is seen as essential. The joint agenda will address topics like prediction markets, event-based contracts, and the use of stablecoins as collateral in derivatives. With the House recently passing the CLARITY Act to clarify the roles of the SEC and CFTC, the timing of the roundtable highlights the urgency of establishing a unified regulatory structure ahead of Senate discussions title6 [ 6 ].

The agencies stressed that harmonizing regulations will not only boost U.S. competitiveness but also uphold strong investor protections. For instance, while longer trading hours could bring U.S. markets in line with global practices, appropriate safeguards are needed to manage liquidity risks. Likewise, the introduction of perpetual contracts would require clear leverage limits and strict risk controls to prevent issues seen in offshore markets title7 [ 7 ].