What happened?
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have decided to hold a joint roundtable to discuss regulatory harmonization. This meeting, which will take place on September 29, would feature three panels that would explore how both organizations could collaborate more effectively in the oversight of trading platforms, market participants, and digital asset services.
Who does this affect?
This event impacts traditional finance executives and leading crypto firms who will be a part of the joint roundtable. Traditional financial exchanges, custody providers, stablecoin issuers operating in the United States and crypto platforms like Kraken and Crypto.com could all be directly affected by the outcomes of this discussion.
Why does this matter?
The joint roundtable is a pivotal event because it signifies the taking of steps towards aligning regulatory approaches by the two major regulating bodies, the SEC and CFTC. The inclusion of crypto platforms alongside traditional finance giants indicates the progression of the regulatory debate. This could potentially have a significant impact on the market due to the potential reshaping of oversight within the trading industry.