The U.S. SEC and CFTC signed a memorandum of understanding to collaborate on developing crypto policies and promoting the launch of new products.

CoinFeed reported on March 12 that, according to The Block, the U.S. Securities and Exchange Commission (SEC) and the Cross-Border Commodity Trading Commission (CFTC) signed a memorandum of understanding (MOU), pledging to strengthen coordination and cooperation to support legitimate innovation, maintain market integrity, and ensure investor and customer protection. SEC Chairman Paul Atkins stated that decades of regulatory turf wars, duplicate registrations, and conflicting regulations between the two agencies have stifled innovation and pushed market participants to other jurisdictions. The two agencies stated their commitment to developing federal policies "suitable for a regulatory framework for crypto-assets and other emerging technologies," and pledged in the MOU to "coordinate closely and cooperate, and, where appropriate, remove barriers to the legitimate launch of crypto-asset products." While MOUs are typically non-binding, the formal commitment by the two agencies to work closely together on policy measures, including those related to crypto, is a positive sign for digital asset advocates.