The Commodity Futures Trading Commission and Securities and Exchange Commission announced a joint initiative, Project Crypto, aimed at modernizing digital asset regulation. The program was unveiled at a joint agency event, marking one of the first public appearances by newly appointed CFTC Chair Michael Selig and highlighting closer coordination between the two regulators.
Project Crypto seeks to reduce regulatory fragmentation by aligning approaches to market structure, custody, trading, and classification of digital assets. The agencies plan to explore interim measures, including shared frameworks, while Congress continues to debate legislation that would formally define regulatory responsibilities. The effort follows years of jurisdictional tension between the SEC and CFTC over crypto oversight.
The announcement comes as lawmakers advance competing digital asset bills in Congress, underscoring regulatory uncertainty for market participants. By formalizing cooperation, the agencies aim to provide clearer standards while legislative work continues, signaling a more coordinated federal posture toward crypto markets.
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