U.S. CFTC Chair: Has joined the SEC for crypto projects and signed a memorandum of understanding to reduce overlapping enforcement risks

According to Bitcoin.com News on May 13, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said Tuesday at the FINRA 2026 annual conference held in Washington that the CFTC is strengthening coordination with the U.S. Securities and Exchange Commission (SEC) in the areas of regulation, rulemaking, and enforcement. He also said they have signed a memorandum of understanding, and are advancing the establishment of a crypto-asset classification framework.

Selig’s Key Statements at the FINRA 2026 Meeting

According to Bitcoin.com News, Selig said at the FINRA 2026 annual meeting: “In recent months, we have signed memoranda of understanding, launched a joint coordination plan, joined the SEC’s ‘crypto projects,’ and advanced a commonsense crypto-asset classification framework designed to provide clear guidance for our country’s builders and innovators.”

Selig said that, through parallel enforcement actions and information sharing, the risk of duplicative or inconsistent outcomes arising from the same underlying conduct has been reduced. He also pointed out that collaboration among agency staff helps streamline compliance work and enhance regulatory effectiveness across overlapping jurisdictions.

Specific Coordination Measures Between the CFTC and SEC

According to Selig’s statements at the FINRA 2026 annual conference (reported by Bitcoin.com News), coordination measures that the CFTC and SEC have taken or plan to take include:

· Signed memoranda of understanding (MOUs)

· Launched a joint coordination plan

· Joined the SEC’s “Project Crypto”

· Expected to jointly publish a request for comments on portfolio margin and swap data reporting

· Committed to aligning the CFTC’s swap reporting requirements with the SEC’s Regulation SBSR (Reporting and Recordkeeping Requirements for Security-Based Swaps)

Cross-Market Regulatory Needs: FINRA and NFA

According to Selig’s statement, as market activity increasingly crosses the domains of securities and commodity derivatives, the scope of business for the Financial Industry Regulatory Authority (FINRA) and the U.S. National Futures Association (NFA) is becoming increasingly overlapping. Coordinated and consistent examinations, stricter recordkeeping standards, and shared market surveillance practices help regulatory bodies and market participants manage overlapping obligations more efficiently.

On coordination goals, Selig said: “Here, we have real opportunities to deepen cooperation. This is not about merging identities or smoothing over important differences, but about achieving coordination between organizations in a way that helps regulators and market participants.”

FAQ

When and where did CFTC Chairman Selig make his statement?

According to a May 13, 2026 report by Bitcoin.com News, CFTC Chairman Michael S. Selig made the above statement at the FINRA 2026 annual conference held in Washington on May 12, 2026.

What specific coordination actions have the CFTC and SEC taken in the field of crypto regulation?

According to Selig’s statement, specific actions taken include signing a memorandum of understanding, launching a joint coordination plan, joining the SEC’s “Project Crypto,” and advancing the establishment of a crypto-asset classification framework; it is also expected that the agencies will jointly publish a request for comments on portfolio margin and swap data reporting.

How does the CFTC chairman define the coordination approach between the CFTC and SEC?

According to Selig’s statement at the FINRA 2026 annual meeting, the goal is “coordination between organizations,” not an organizational merger. It emphasizes improving consistency in areas where value can be created while maintaining each agency’s professional characteristics, in order to reduce the risk of duplicative or inconsistent enforcement outcomes.