SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham issued a joint statement pledging closer coordination as securities and derivatives markets converge. They said harmonization is vital to crypto and other innovations, warning that past regulatory gaps stifled progress.

SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham issued a joint statement on September 5, 2025, saying the two agencies will work more closely to align their approaches as securities and derivatives markets increasingly overlap, especially in crypto. The statement said harmonization is essential for innovation and proposed areas for coordination including product and venue definitions, reporting and data standards, capital and margin rules, and coordinated innovation exemptions using each agency’s existing authority.

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More coverage

• Acting Chairman Pham Statement on Confirmation of SEC ... (cftc.gov)
• SEC and CFTC Release Joint Statement on Regulatory Harmonization (dart.deloitte.com)
• CFTC and SEC Issue Joint Statement on Regulatory Harmonization ... (cftc.gov)
• SEC-CFTC Host Historic Harmonization Roundtable - Katten (quickreads.ext.katten.com)
• Acting Chairman Caroline Pham (x.com)

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