TLDR
- SEC Chair Paul Atkins and CFTC Chair Mike Selig appeared on CNBC Thursday to discuss the crypto market structure bill ahead of a White House meeting scheduled for Monday
- The Senate Agriculture Committee voted 12-11 to advance the digital asset market structure bill after debate on Thursday
- Stablecoin yield treatment remains a key dispute in the legislation, dividing traditional banks and crypto companies
- CFTC will work with SEC on joint crypto asset taxonomy to clarify that digital commodities and collectibles are not securities
- Selig outlined new CFTC agenda including rules on tokenized collateral, prediction markets, and safe harbors for software developers
SEC Chair Paul Atkins and CFTC Chair Mike Selig made a joint appearance on CNBC’s Squawk Box on Thursday. The two regulators discussed the ongoing crypto market structure bill and an upcoming White House meeting set for Monday.
🇺🇸 SEC CHAIR JUST ANNOUNCED TO PARTNER WITH CFTC TO MOVE BITCOIN AND CRYPTO AHEAD
HE JUST CALLED IT “THE MOST AMBITIOUS INITIATIVE IN A GENERATION”
WHAT A TIME TO BE ALIVE pic.twitter.com/Mye1qXTLiD
— Vivek Sen (@Vivek4real_) January 29, 2026
The crypto market structure bill recently passed the House of Representatives. It is now under review in the Senate, where lawmakers are working through issues on the Agriculture and Banking Committees.
The Senate Agriculture Committee voted 12-11 on Thursday to advance the digital asset market structure bill. The vote clears the way for a future floor vote.
One major point of disagreement involves how stablecoin yield should be treated. This issue has created a divide between traditional banks and crypto companies.
Coinbase recently withdrew its support for the bill. The exchange cited concerns over several provisions, including those related to yield.
When asked about the dispute, neither Atkins nor Selig took a clear position. Atkins said the SEC has been advising both committees and is “looking forward to helping them get across the finish line.”
Selig referenced the GENIUS Act, which passed in July 2025. He said the act placed stablecoin policy largely outside the CFTC’s authority.
Joint Framework for Digital Assets
The CFTC will work with the SEC on a joint crypto asset taxonomy. The framework aims to make clear that digital commodities, collectibles, and tools are not securities.
Selig directed his staff to work with the SEC “to consider joint codification of this framework as an interim measure while Congress finalizes legislation.” The collaboration represents a shift from previous years of regulatory uncertainty.
Selig made his first public remarks since being sworn in last month. He said Thursday’s event marked “the beginning of a new chapter for the CFTC.”
Atkins praised Selig’s appointment. He said Selig brings “a deep respect for market integrity, paired with a practical understanding of how innovation drives prosperity.”
The SEC chair said the agencies will deploy “every tool at our disposal to reduce friction, to harmonize standards and definitions where appropriate.”
New CFTC Agenda
Selig outlined several policy priorities for the CFTC. He directed staff to work on a rule enabling “the responsible deployment of additional forms of eligible tokenized collateral.”
The CFTC will also work to “onshore perpetual and other novel derivative products.” This would allow them to operate across both centralized and decentralized markets.
Selig committed to establishing “clear and unambiguous safe harbors for software developers.” He also wants to explore creating a new category of registration tailored to retail crypto asset trading.
On prediction markets, Selig announced a new direction. The CFTC had been involved in legal battles over these businesses for years.
“I have directed CFTC staff to move forward with drafting an event contracts rulemaking,” Selig said. The White House crypto council will host a meeting between banking and crypto industry executives as negotiations continue over the CLARITY Act.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
