The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they have entered into a Memorandum of Understanding (MOU) to guide coordination and collaboration between the two agencies.
SEC Chair Atkins was quoted in the announcement, “This updated Memorandum of Understanding will serve as a roadmap for a new era of harmonization between the agencies – one that is critical to support U.S. leadership in this next chapter of financial innovation. By aligning regulatory definitions, coordinating oversight, and facilitating seamless, secure data sharing between agencies, we will ensure our rules and regulations deliver the clarity market participants deserve.”
The MOU indicated that the agencies intend to harmonize policies and practices including in these areas:
“.. (1) providing regulatory clarity and certainty built on technology-neutral regulations, frameworks that account for emerging technologies, transparent decision-making, and well-defined regulatory boundaries; (2) sharing information and data concerning issues of common regulatory interest to fulfill their respective regulatory mandates, including, but not limited to, in connection with a specific incident, event, or activity;1 (3) closely coordinating and cooperating to remove obstacles where appropriate, to the lawful introduction of novel derivative products, crypto asset products, or other products to market participants, customers, and investors; and (4) enhancing the functioning of the underlying markets.”
Read the announcement.
Read the MOU.
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