WASHINGTON, May 12, 2026 — Commodity Futures Trading Commission Chairman Michael S. Selig said the agency is working with the U.S. Securities and Exchange Commission to further align oversight, rulemaking and enforcement efforts across increasingly interconnected securities and derivatives markets, including the digital asset sector, according to remarks published Tuesday by the CFTC.
Speaking at the FINRA 2026 Annual Conference on Tuesday, Selig said the two agencies had entered into a memorandum of understanding, launched a “joint harmonization initiative,” joined the SEC’s “Project Crypto,” and advanced what he described as a “common-sense crypto asset taxonomy.”
“To navigate this, I’m working with Chairman Atkins to harmonize our agencies’ policymaking and oversight to better serve the American people,” Selig said in prepared remarks published by the CFTC.
Joint harmonization initiative and crypto taxonomy
The remarks provided additional detail on ongoing coordination efforts between the CFTC and SEC related to crypto market oversight and broader regulatory harmonization.
Selig said the agencies are expected to issue joint requests for comment related to portfolio margining and swap data reporting as part of ongoing harmonization efforts.
“There have been ongoing efforts to better align swap data reporting under CFTC rules with security-based swap reporting under SEC Regulation SBSR,” he said. “This coordination is aimed at reducing discrepancies between the agencies’ rules and improving data quality and usability.”
Selig also said the agencies are increasing coordination on enforcement activity, including through parallel actions and information-sharing efforts intended to reduce the risk of duplicative or inconsistent outcomes tied to the same underlying conduct.
Regulatory consistency across overlapping jurisdictions
Selig framed the initiatives as part of a broader push toward regulatory consistency across overlapping jurisdictions as financial markets become increasingly interconnected.
“When the CFTC and SEC operate in true alignment, whether through coordinated rulemaking, unified priorities, or by simply having staff of both agencies working together, the impact is significant,” he said.
According to Selig, closer coordination can streamline compliance obligations, reduce interpretive uncertainty, and strengthen overall market integrity.
Role of self-regulatory organizations
The remarks were delivered during a speech focused largely on the role of self-regulatory organizations in U.S. financial oversight, including FINRA and the National Futures Association.
Selig said self-regulatory organizations provide continuous supervision and technical expertise that complement federal oversight and argued that closer coordination between regulators and SROs could improve consistency for firms operating across securities and derivatives markets.
“We have a real opportunity here for greater collaboration,” Selig said. “Not to merge identities or flatten important differences, but to align the organizations in ways that help regulators and market participants.”
Broader digital asset oversight efforts
The remarks come amid broader efforts by U.S. financial regulators to clarify oversight responsibilities and reporting standards for digital asset markets as activity increasingly spans multiple regulatory frameworks.
