US CFTC Commissioner outlines six reasons for cooperation with SEC

U.S. Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham has outlined why the CFTC and the Securities and Exchange Commission (SEC) must cooperate. - Clarify commodity definitions through joint interpretation and rulemaking to end confusion over whether a token is a security or a commodity. - Modernize frameworks for clearing, margin, and collateral, allowing capital efficiency to improve liquidity and lead to better pricing. - Reduce friction for dually registered exchanges, trading platforms, and intermediaries to alleviate regulatory burdens and over-regulation. - Provide a regulatory framework suitable for crypto and new technologies to make the U.S. the crypto capital. - Streamline regulatory reporting for transaction data, funds, and intermediaries to reduce costs and improve data quality. - Coordinate cross-market examinations, economic analysis, risk monitoring, surveillance, and enforcement, as cooperation is stronger, faster, and cheaper. Previously, U.S. SEC Chairman Paul Atkins stated that the jurisdictional conflict between the SEC and CFTC had ended, adding that the two agencies signed a memorandum of understanding (MOU) to enhance cooperation.