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US crypto regulation is shifting toward coordinated action as the SEC and CFTC expand joint work for 2026. Staff teams are aligning on spot crypto oversight and clearer compliance steps for firms.
Officials say the agencies are moving from turf enforcement to shared planning. The joint effort covers definitions, market access, and enforcement coordination. Token issuers and exchanges are watching for drafts and deadlines. They also want clear tests for whether a token is a security.
SEC Chair Paul Atkins has backed a token classification system and Project Crypto as key workstreams. The plan sorts tokens by function and by how buyers use them. That sorting can guide registration paths and required disclosures. It can also shape access to trading across compliant US platforms.
Atkins said regulators should not impose a single market design on all participants. He said, "Market participants should have the freedom to choose where they trade spot crypto assets." Atkins added that the SEC will work with the CFTC on aligned rules. He said the frameworks should "support innovation and competition." The joint message aims to reduce confusion for issuers and exchanges.
Staff from both agencies also issued a joint statement on spot crypto products. They want venues to meet standards for custody, surveillance, disclosure, and risk controls, and they want clearer registration pathways.
The CFTC is accelerating its Crypto Sprint initiative under Chairman Michael Selig. The program focuses on crypto commodities such as Bitcoin and similar assets. It also aims to clarify rules for listed spot crypto trading. The agency wants more precise definitions of products and of intermediaries' responsibilities.
The CFTC has also flagged work on collateral and margin practices that touch tokenized assets. The agency wants clearer standards for reporting and risk controls. It also wants consistent practices across market participants. At the same time, the CFTC is coordinating with the SEC on oversight boundaries.
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SEC leadership has also moved more quickly on standards related to crypto ETF listings and reviews. The agency has also placed asset tokenization on its policy list. It has asked staff to design workable compliance routes for regulated products. These steps can affect custody, pricing, and surveillance rules for fund issuers.
Regulators are also discussing measures tied to countering the financing of terrorism. That work can shape onboarding checks and transaction monitoring on platforms. It can also tighten controls around transfers and recordkeeping.
SEC lawyer Howard Fischer called the collaboration rare in Washington. The next step will be to develop timelines and draft language, since firms need rules to plan for compliance.
