United States Securities and Exchange Commission (SEC) head Paul Atkins denied speculation that the Commodity Futures Trading Commission (CFTC) would be merging with the SEC in a recent appearance on Mornings with Maria.
According to the September 23 X post published on the official Mornings with Maria account, Atkins pushed back on the idea that the two agencies would merge, saying that he has his “hands full right now.”
“We’re working hand in glove with the CFTC right now, so compartmentalization is what I really envision,” Atkins said. “People have been discussing these issues for a long time, and we’re at a point now, especially when we look at the changes in the digital asset area, that it’s really incumbent on the two agencies to work hand in glove.”
However, Atkins did admit that the SEC has been looking at “issues with respect to the crypto area,” alongside the CFTC, with the former SEC commissioner affirming that the “American public will benefit from a joint effort by the two agencies.”
News of the CFTC and SEC’s rumored merger comes ahead of the agencies’ joint roundtable next Monday, September 29.
According to the SEC’s website, the roundtable will serve as “an opportunity to discuss regulatory harmonization priorities” and will be open to the public.
“It is a new day at the SEC and the CFTC, and today we begin a long-awaited journey to provide markets the clarity they deserve,” Atkins and CFTC Acting Chairman Caroline D. Pham said in a September 5 statement.
“By working in lockstep, our two agencies can harness our nation’s unique regulatory structure into a source of strength for market participants, investors, and all Americans,” they added.
However, exactly how the two agencies will address potential overlapping blockchain jurisdictions remains to be determined.
