SEC and CFTC Reject Merger, Address Crypto Oversight

SEC and CFTC Rule Out Merger, Tackle Crypto Oversight Concerns

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 30, 2025

Key Takeaways

SEC and CFTC met for their first joint roundtable in over a decade to align oversight, with crypto regulation a key focus of talks;
Acting CFTC Chair Caroline Pham cited 45 actions this year and rejected doubts about its crypto oversight;
SEC Chair Paul Atkins stressed cooperation between regulators while noting that only Congress and the President decide.

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On September 29, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) held their first shared roundtable in more than a decade.

The discussions centered on ways to align oversight practices, including those affecting cryptocurrency firms.

Caroline Pham, the acting head of the CFTC and currently the only commissioner left after several departures this year, highlighted the importance of both agencies working together.

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She also made a point of addressing "fear, uncertainty, and doubt" about how the CFTC handles crypto oversight.

To back her comments, Pham outlined the regulator’s recent activity. Between January 20, when she stepped into the role, and September 3, the commission carried out 18 non-enforcement actions and 13 enforcement actions, some of which involved crypto-related lawsuits.

She added that since September 4, the agency has taken another 14 actions. She pushed back against claims that the agency had slowed down. Pham noted, "The CFTC is alive and well".

At the same event, SEC Chair Paul Atkins clarified that there is no plan to merge the two bodies. He stressed the need for cooperation across agencies but reminded that only Congress and the President could approve a merger. "Collaboration, not consolidation", was how he framed it.

The meeting also featured industry voices, with representatives from exchanges such as Kraken $622.84M and Crypto.com $3.13B participating in panel discussions.

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