Crypto Chaos & Bureaucracy!

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A most curious spectacle is unfolding in Washington, it seems. The esteemed gentlemen of the Securities and Exchange Commission and the Commodity Futures Trading Commission, after years of politely pointed disagreements – one might say a restrained form of bureaucratic wrestling – are to present a united visage to the public.

Mr. Paul Atkins, he of the SEC, and Mr. Mike Selig, presiding over the CFTC, will grace a joint public gathering, all in the name of “harmonization.” A rather grand word, wouldn’t you agree, for what is essentially an attempt to sort out a muddle of their own making? And all, naturally, to further the ambitions of the former President, Donald Trump, who, with a characteristic flourish, desires the United States to become the very heart of all things cryptographic.

Concerning the Harmonization of Oversight in the Realm of Digital Currencies

The event, rather portentously titled “Harmonization, US Financial Leadership in the Crypto Era,” is scheduled for Tuesday, January 27th-a day, I suspect, already circled on the calendars of many a lobbyist-between the hours of ten and eleven in the forenoon at the CFTC headquarters in the capital city.

NEXT WEEK: We are partnering with the @CFTC to hold a joint event on harmonization and U.S. financial leadership in the crypto era.

The event, held at CFTC headquarters, will be open to the public and livestreamed on our website.

– U.S. Securities and Exchange Commission (@SECGov) January 22, 2026

They propose to open the proceedings to the public – a generous gesture, one might say, though whether the public will truly understand the intricacies of this affairs is, naturally, another matter entirely. Mr. Atkins, ever the pragmatist, frames this meeting as a dutiful response to the dictates of higher authority.

“I am anticipating with some degree of pleasure the opportunity to join Mr. Selig next week at this joint endeavor of ours,” he declared, “and to discuss the delicate art of achieving accord between our two agencies. Together, we shall strive to fulfill the late President Trump’s grand promise-to render the United States the undisputed capitol of all things crypto.”

Mr. Selig, not to be outdone in displays of patriotic fervor, echoed these sentiments, rather pointedly emphasizing a spirit of collaboration, rather than the petty rivalries of the past.

“The CFTC and SEC are joined in a common purpose,” he intoned, “to bring to fruition the vision of President Trump and to establish the United States as the world’s preeminent Crypto Capital.” They shall, he assures us, “present their blueprint for the attainment of US financial leadership in this, shall we say, novel era.”

This joint appearance, one must observe, is a departure from a history marked by something resembling, well, disagreement regarding who actually owns the regulation of these peculiar digital assets.

For years, the SEC has concerned itself with the established world of securities, guided by laws of venerable age. The CFTC, meanwhile, watches over commodities and their more complex derivatives. These cryptographic creations, however, often defy easy categorization, leading to:

  • A regrettable tendency towards duplicate investigations
  • A pervasive atmosphere of uncertainty, and
  • The continual lamentations of those in the industry regarding regulatory overreach by enforcement.

A Signal of Clarity, or Merely a Change in Tactics?

This January gathering, we are told, builds upon prior efforts at coordination begun in the year 2025, including a roundtable discussion focused on achieving… you guessed it, harmonization.

Some in the market have taken this as a symbolic end to what they delicately termed “turf wars.” Since then, both regulators have, with admirable – one might even say, suspiciously admirable-enthusiasm, emphasized collaboration over competition, particularly as lawmakers ponder legislation like the CLARITY Act, designed to delineate with more precision the realms of each regulatory body.

According to the SEC, the upcoming discussion will revolve around – what else? – “harmonization and US financial leadership in the crypto era.” Following some brief remarks from the presiding gentlemen, a moderated discussion is planned. Miss Eleanor Terrett, a personality of some renown in the podcasting world, will serve as the moderator.

🚨NEW: Next week, I’ll be moderating a discussion with SEC Chair @SECPaulSAtkins and CFTC Chair @ChairmanSelig on the agencies’ crypto harmonization plans.

Tune in at 10AM next Tuesday live on the CFTC website!

– Eleanor Terrett (@EleanorTerrett) January 22, 2026

One anticipates, with a healthy dose of skepticism, that the discussion will touch upon the intricacies of regulating spot crypto markets, the labyrinth of DeFi, these “tokenized assets”, perpetual contracts… and the rather inconvenient truth that digital assets trade around the clock. These, naturally, are all areas where the current lack of clarity sends innovation scurrying offshore.

Should the SEC and CFTC manage to achieve a degree of accord, one might expect:

  • A reduction in the cost of compliance – a boon for all involved, naturally, except the accountants.
  • An increase in the participation of established financial institutions, and
  • A decreased incentive for firms to establish their operations beyond the borders of the United States.

Indeed, it may indicate an advantageous moment for regulation under an administration leaning towards these digital curiosities.

While no immediate announcements of policy are anticipated during this one-hour session, the sheer spectacle itself speaks volumes. Whether this is a genuine attempt at streamlining, or merely a cunning political maneuver, remains, as yet, to be seen. It is often the case, you know, that much smoke precedes, well, very little fire.

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2026-01-23 09:46