The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are joining forces to host a joint roundtable on regulatory harmonization for digital assets. The event will take place today from 1 to 5:30 P.M. ET and will be streamed on SEC.gov. The roundtable will feature opening remarks from SEC Chair Paul S. Atkins and CFTC Acting Chair Caroline D. Pham, with closing remarks from SEC Commissioner Hester M. Peirce.
The agenda for the roundtable includes executives from Intercontinental Exchange, CME Group, Nasdaq, Kraken, Polymarket, and Kalshi. The goal of the roundtable is to provide clarity to the markets on the regulatory framework surrounding digital assets. Atkins and Pham emphasized the importance of this effort, stating that it is a new day at the SEC and the CFTC, and that they are beginning a long-awaited journey to provide markets with the clarity they deserve.
The discussion blocks at the roundtable will focus on jurisdictional tests, listings and exchange supervision, and public market plumbing such as data-sharing and surveillance cooperation. The CFTC is also moving on tokenized collateral, with an initiative to take comments on the use of stablecoins and other tokenized assets for margin in derivatives markets.
The practical stakes of the roundtable are significant. The discussions will impact the scope of the securities test for exchange-traded digital assets, the location of spot-market oversight, and the treatment of event-contract venues. The outcome of the roundtable could influence the next wave of products in the market, including ETFs, stablecoins, and prediction markets.
The immediate consequences of the roundtable discussions will be seen in market flows and structure. U.S. spot bitcoin ETFs continue to attract significant investments, and the decisions made at the roundtable could impact the future direction of these investments. Additionally, stablecoin policy will play a crucial role in collateral and settlement in the market.
The roundtable will provide clarity on how the SEC and CFTC plan to regulate digital assets, including listings, surveillance expectations, and collateral policy. The outcome of the roundtable discussions will shape the future of the digital asset market and could impact liquidity, market structure, and regulatory oversight.
The roundtable will be live-streamed on SEC.gov, and all materials, including the agenda, panel timing, and speaker lists, will be available on the roundtable page. Stay tuned for updates on the outcomes of the roundtable discussions and their implications for the digital asset market.