The U.S. is entering a pivotal phase in crypto regulation as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) coordinate efforts to enhance oversight and clarify rules. CFTC Chairman Michael S. Selig, in his first public remarks, emphasized a strategy focused on regulatory clarity and inter-agency cooperation to maintain U.S. leadership in digital asset markets. Selig announced initiatives to draft rules for retail crypto trading, including clarifying when leveraged, margined, or financed transactions can occur off-exchange. He also proposed new registration categories for platforms offering these transactions. These measures aim to harmonize oversight with the SEC, reduce compliance duplication, and foster innovation within a secure regulatory framework.