U.S. SEC and CFTC stress "no merger plans" at first joint roundtable in 14 years

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) held a joint roundtable for the first time in 14 years and officially denied merger rumors that had been raised in some quarters.

On the 29th (local time), according to crypto-focused outlet Cointelegraph, Paul Atkins, SEC chair, said, "Cooperation between the two agencies is necessary, but there will be no merger," adding, "That is a matter for Congress and the President to decide." This was an official denial of merger rumors circulating in parts of the market.

Caroline Pham, acting CFTC chair, said, "The concern that the CFTC's functions related to virtual assets have been weakened is not true," and introduced 18 actions and 13 enforcement cases the agency has carried out since January of this year. She emphasized, "The CFTC remains strong," and said, "There is no reason to spread baseless fear (FUD) anymore."

Industry representatives such as Kraken and Crypto.com attended the meeting, and former CFTC chair Christopher Giancarlo and former commissioner Jill Sommers moderated the discussion.

However, it is true that discussions to clarify the roles of the SEC and CFTC in the 'market-structure bill (Clarity Act, CLARITY Act)' are being delayed. This is because a deadlock in congressional budget negotiations has increased the possibility of a government shutdown.