SEC and CFTC Sign Historic MOU Ending Crypto Jurisdiction War
The SEC and CFTC formally agreed to stop fighting over who regulates crypto.
What Changed
On March 11, 2026, SEC Chairman Paul Atkins and CFTC Chairman Michael Selig signed a Memorandum of Understanding committing both agencies to coordinated oversight of digital assets. The MOU identifies six core areas for harmonization: joint product definitions, clearing and margin frameworks, cross-market surveillance, coordinated examinations, aligned enforcement, and a shared regulatory framework for crypto assets. The MOU supersedes the agencies' 2018 agreement and explicitly ends the era of duplicative enforcement actions.
Who It Affects
Every crypto exchange, VASP, broker-dealer, and investment adviser operating in the United States or serving US customers. Dually registered firms benefit most — the MOU promises to reduce duplicative registrations and conflicting compliance obligations.
What to Do
Review your compliance program for dual-registration efficiencies. If you were maintaining separate SEC and CFTC compliance frameworks, assess whether they can be consolidated. Monitor the joint interpretive guidance (released March 17) for specific token classification changes that may reclassify assets in your portfolio.
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