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U.S. SEC chief Atkins said bond with sister agency CFTC to include joint meetings, exams

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U.S. regulator declares do-over on prediction markets, throwing out Biden era 'frolic'

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission — the sister agencies that will regulate most U.S. crypto activity — have been rivals in the past over crypto issues, but they’re now pursuing a formal memorandum of understanding to combine agency efforts, said SEC Chairman Paul Atkins.

“We are reorienting our approach toward a new golden age of regulatory coherence,” Atkins was set to say on Tuesday in remarks prepared for the FIA Global Cleared Markets Conference in Florida. “More than aligning our rules, a harmonized framework also demands coordinating our responses to the firms that operate within it, including those that have questions of interpretation or request exemptive relief.”

Atkins said he’s also directed his staff to begin setting up joint meetings with CFTC employees on product applications, and a new “harmonization” website will allow firms to request coordinated discussions with both agencies.

“Firms should not be shuffled back and forth between regulators when a product touches elements of both regulatory frameworks,” he said. “Nor should clarity depend on which agency happens to speak first.”

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The division of roles between the SEC, which regulates securities and the exchanges on which they trade, and the CFTC, the commodities watchdog that oversees derivatives markets, has been a key source of friction in the process of establishing U.S. crypto trading. No formal rules have been set to say where crypto products belong, and years of regulatory actions and legal disputes have resulted.

Since the arrival of leaders appointed by President Donald Trump, the two agencies have embraced friendly crypto policies as a top priority, in line with the president’s requests. They’re now working on several, including policies to clarify how digital assets will be defined as securities and commodities.

The formalized cooperation will also extend to enforcement decisions and regulatory examinations, which will become a more routine element for crypto firms as they enter more deeply into federal oversight. That could save the companies from having to go through repetitive exams.

“Coordinated exam planning for dually regulated entities should become standard practice,” Atkins said. “Shared supervisory findings, subject to assurances of confidentiality, should be the norm rather than the exception.”

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Atkins also revisited his intention to carve out a path for super-apps that allow users to conduct business across both agencies’ jurisdictions.

“In the technology world, a super-app integrates multiple services into a single seamless interface,” he said. “The user does not toggle between separate systems to complete related tasks. Instead, integration occurs invisibly behind the scenes.”

Read More: CFTC chair highlights wide crypto agenda, including rules on DeFi, prediction markets

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Crypto World

Bitcoin ETFs Will Be Bigger Than Gold ETFs, Says ETF Analyst

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Bitcoin ETFs Will Be Bigger Than Gold ETFs, Says ETF Analyst

Spot Bitcoin exchange-traded funds (ETFs) could surpass gold ETFs in total assets under management (AUM) as investor demand expands beyond the traditional “digital gold” narrative, according to ETF analyst James Seyffart.

“There are just more use cases of why somebody would put a Bitcoin ETF in a portfolio,” Seyffart said on the Coin Stories podcast published to YouTube on Friday. He pointed to Bitcoin’s (BTC) role as digital gold, a store of value, a portfolio diversifier, and a form of digital capital and property, adding that the market also views Bitcoin as a “growth risk asset.”

Seyffart explained that Bitcoin has “all these different ways” of being viewed, while gold only has “one of those things.”

“Our view is that Bitcoin ETFs will be larger than gold ETFs,” he added.

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Bitcoin ETFs are a “hot sauce” in the portfolio

“There are so many people that could use it. They could be viewing it to put in their portfolio because they want to bet on like a growth and liquidity trade,” he said. “It can be hot sauce in a portfolio in that way,” he added.

Bloomberg ETF analyst James Seyffart spoke to Natalie Brunell on the Coin Stories podcast. Source: Coin Stories

Bitcoin is often compared to gold due to its limited supply and perceived role as a hedge against monetary debasement. 

US-based gold ETFs recorded net outflows of $2.92 billion in March, while US spot Bitcoin ETFs attracted $1.32 billion in net inflows over the same period.

Gold and BTC have declined over the past 30 days

The largest US gold-backed ETF, GLD, recorded a $3 billion outflow on Mar. 4, the largest daily withdrawal in more than two years.

On Mar. 19, Cointelegraph cited data from the Bank for International Settlements (BIS) showing retail gold purchases have tripled over the last six months, while Wall Street selling has accelerated over the past four months.

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Related: Bitcoin ‘done’ with 85% crashes, says Cathie Wood amid new $34K target

Despite the divergence in ETF flows, both assets have moved broadly in tandem in recent weeks.

Bitcoin is trading at $66,918 at the time of publication, down 8.07% over the past 30 days, according to CoinMarketCap. Meanwhile, gold is trading at $4,676, down 8.25% over the past 30 days, according to GoldPrice data.

In December 2025, Fidelity Digital Assets analyst Chris Kuiper said that, “historically, gold and Bitcoin have taken turns outperforming. With gold shining in 2025, it would not be surprising if Bitcoin takes the lead next.”

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