SEC, CFTC Will Conduct Joint Exams and Meetings of Firms Pitching Crypto Products

SEC Chairman Paul Atkins announced that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are formalising cooperation through a new memorandum of understanding (MOU) to regulate crypto activity, committing to deeper joint oversight including combined meetings, examinations, and coordinated enforcement work.

Atkins framed the move as reorienting towards “a new golden age of regulatory coherence,” and said the MOU will cover product applications, rule interpretations, enforcement decisions and examinations of regulated firms.

@coindesk

The MOU is intended to prevent firms from being “shuffled back and forth” between regulators when products touch both agencies’ jurisdictions.

Atkins said staff have been directed to begin organising joint meetings with CFTC employees and that a new “harmonization” website will let firms request coordinated discussions with both agencies.

He said coordinated exam planning for dually regulated entities should become standard practice and that shared supervisory findings, with confidentiality assurances, should be the norm rather than the exception.

CoinDesk

The formalisation is meant to save companies from repetitive exams and streamline interactions for firms that operate across securities and derivatives frameworks.

The announcement follows a history of rivalry between the SEC and CFTC over where crypto products belong, and reflects a strategic pivot under leaders appointed by President Donald Trump who prioritise friendly crypto policies.

No formal rules yet define whether particular digital assets are securities or commodities, and years of regulatory actions and legal disputes have left the boundary unclear.

The agencies are now collaborating to clarify digital-asset definitions and to align approaches where products straddle both regulatory frameworks.

For crypto firms, the MOU promises more predictable regulatory engagement: joint meetings on product applications and rule interpretations, the potential to avoid duplicate exams, and more coordinated enforcement decisions.

Atkins emphasised that harmonisation would prevent regulatory clarity from “depend[ing] on which agency happens to speak first,” suggesting firms could gain faster, more consistent answers on interpretive questions and exemptive relief.

CoinDesk

However, firms should also expect closer federal oversight as joint exams and shared supervisory findings become more routine.

Atkins additionally revisited his interest in carving out a path for super‑apps that integrate multiple services across agencies’ jurisdictions, highlighting ongoing policy work to accommodate new tech models.

He reiterated that clarifying how digital assets will be defined as securities or commodities remains on the agenda, as the agencies work together to write rules and policies that reflect the hybrid nature of many crypto products.

@coindesk

The joint MOU and harmonisation efforts mark a notable shift toward a coordinated federal approach to crypto regulation, even as specifics of rulemaking and classification remain to be completed.