US SEC and CFTC Aim to Implement Crypto Regulatory Plan by Year-End

Jinse Finance reported that Paul Atkins, Chairman of the US Securities and Exchange Commission (SEC), and Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), stated that the two major regulatory agencies are pushing to achieve a milestone in cryptocurrency regulation by the end of the year. The CFTC plans to implement management of "spot crypto trading and tokenized collateral" by year-end; the SEC is advancing "Project Crypto," which aims to introduce an innovative regulatory exemption system. However, ongoing government shutdowns have limited the efficiency of both agencies. Previously, the White House suggested that the SEC should consider a crypto safe harbor and exemptions for securities issuance registration, while the CFTC has been authorized to regulate the spot market for non-security digital assets. Congress is also promoting legislation to establish clear rules for the crypto industry. The SEC hopes that the relevant bill can be signed into law by the end of the year to clarify market boundaries and coordinate regulatory actions.