“With Commodity Futures Trading Commission head Mike Selig new in the role, the agencies held a “harmonization” event to show they’re side-by-side.”, — write: www.coindesk.com
Even as crypto legislation moves in fits and starts through Congress, the US Securities and Exchange Commission and the Commodity Futures Trading Commission are trying to advance regulatory policy to give the industry some comfort in doing US business. The CFTC has a new leader, Mike Selig, who was sworn in last month after his Senate confirmation and is already moving forward on crypto initiatives.
“Chairman Selig brings to the CFTC precisely what this moment demands: a deep respect for market integrity, paired with a practical understanding of how innovation drives prosperity for the American people,” said SEC chairman Paul Atkins, whose first year at the helm has already represented a sharp reversal of Democratic predecessor Gary Gensler’s stance on the digital assets sector. He said the agencies will be “deploying every tool at our disposal to reduce friction, to harmonize standards and definitions where appropriate, and to equip markets with confidence as Congress completes its vital work.”
The SEC is responsible for securities, and that will include tokenization and any cryptocurrencies that are deemed to check that box, although leading tokens such as bitcoin BTC$84,042.49 and Ethereum’s ether ETH$2,795.88 are under the CFTC’s jurisdiction.
The event appears to be a redux of a previous joint meeting between Atkins and Selig’s immediate predecessor, then-Acting Chairman Caroline Pham.
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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SEC Chair Paul Atkins and CFTC Chair Mike Selig said they are working with the Senate to get a crypto market structure bill over the line.
- SEC Chair Paul Atkins said the “time is right” for 401(k) plans to include cryptocurrency, provided it is done in a measured way with guardrails to protect retirees.
- The remarks came as the Senate Agriculture Committee advanced a draft crypto market structure bill that would expand the CFTC’s role and clarify its oversight boundaries with the SEC, although the legislation still faces a long road to becoming law.
- CFTC Chair Michael Selig predicted digital assets will “flourish” under upcoming US rules, arguing that clear national standards could bring blockchain firms back onshore and make the US a premier hub for crypto markets.
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