The SEC and CFTC may establish a joint committee to end the cryptocurrency regulatory dispute

ChainCatcher news, according to TheBlock, the draft market structure bill proposed by the U.S. Senate suggests the establishment of a joint committee between the SEC and CFTC to end the regulatory dispute over cryptocurrencies. The draft includes provisions to protect decentralized finance (DeFi) developers, clarify the regulatory treatment of airdrops, and exempt decentralized physical infrastructure networks (DePINs) from securities laws.

Additionally, the bill calls for the establishment of a Joint Advisory Committee on Digital Assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to coordinate the different regulatory approaches of the two agencies towards digital assets. The SEC and CFTC have recently deepened their cooperation on cryptocurrency regulation and plan to hold a public roundtable on September 29 to discuss "regulatory coordination priorities." SEC Chairman Paul S. Atkins and CFTC Acting Chair Carolyn D. Pham stated in a joint statement: "By collaborating to coordinate the regulatory framework, the SEC and CFTC can reduce unnecessary barriers, enhance market efficiency, and create space for innovation. Our shared goal is to ensure that the U.S. maintains its leadership in global capital markets."

Previously, Senator Cynthia Lummis indicated that the market structure bill is expected to be signed into law by President Trump before Christmas this year. Additionally, the Small Business Administration has ordered banking institutions to restore services to customers who have been illegally "de-banked" and to correct relevant policies by December 5. The Consumer Financial Protection Bureau has also publicly acknowledged instances of power abuse against certain companies during the Biden administration.