The Commodity Futures Trading Commission has hired an adviser who previously served on the Securities and Exchange Commission's crypto task force. The move comes as the US Congress considers the CLARITY Act, a bill that would overhaul the roles of federal financial regulators over digital assets.
From the SEC to the CFTC
The adviser, whose name was not disclosed, brings experience from the SEC's crypto task force. That task force was created to coordinate the agency's approach to digital assets. The hire suggests the CFTC is looking to bridge the gap between the two agencies' approaches to crypto regulation.
The CLARITY Act
The CLARITY Act, currently before Congress, aims to clarify which federal agency has authority over different types of digital assets. The bill would potentially give the CFTC more oversight of crypto spot markets while the SEC focuses on securities. The legislation is still under consideration.
Timing and implications
The hiring comes at a notable moment. With the CLARITY Act in play, the CFTC's new adviser could help shape the agency's stance on digital asset regulation. The move also points to a potential alignment between the CFTC and SEC on crypto policy.
The CLARITY Act remains under debate in Congress. Its outcome could determine the future of US crypto regulation.
