US SEC and CFTC aim to finalize crypto regulation plan by year-end

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins and Commodity Futures Trading Commission (CFTC) Acting Chair Caroline Pham stated that both regulatory agencies are pushing to achieve milestones in cryptocurrency regulation by the end of the year. The CFTC plans to regulate "spot crypto trading and tokenized collateral" by the end of the year, while the SEC is advancing "Project Crypto," which plans to introduce innovative regulatory exemptions. However, the ongoing government shutdown has limited the effectiveness of both agencies. The White House previously proposed that the SEC consider crypto safe harbors and securities issuance registration exemptions, while the CFTC has been authorized to regulate the spot market for non-securities digital assets. Congress is also pushing for legislation to establish clear rules for the crypto industry, and the SEC hopes to have the relevant bill signed and enacted by the end of the year to clarify market boundaries and coordinate regulatory action.