US SEC Chairman: Cooperation with the CFTC will include joint meetings and joint inspections.

PANews reported on March 11 that, according to CoinDesk, U.S. SEC Chairman Paul Atkins stated that the SEC and CFTC are developing a memorandum of understanding to strengthen coordination and cooperation between the two regulatory agencies. Atkins said at the FIA ​​Global Clearing Markets Conference that the two sides are "repositioning themselves for a golden age of regulatory coordination," with cooperation covering joint meetings, rule interpretation, enforcement decisions, and joint inspections of regulated entities.

Atkins pointed out that companies should not be passed around between the regulatory frameworks of two agencies when their products touch upon these issues, nor should they rely on which agency speaks first to obtain clarity. The two agencies will establish a joint meeting mechanism to handle product applications and launch a "coordination" website for companies to request collaborative discussions with both agencies. Coordination will also extend to enforcement decisions and regulatory inspections, avoiding duplicate reviews of entities under dual regulation. Atkins also reiterated its intention to pave the way for "super apps," enabling users to complete transactions across the jurisdictions of both agencies within a single interface.