Two of the most powerful financial regulators in the United States are finally working together on crypto.

The Securities and Exchange Commission and the Commodity Futures Trading Commission signed a memorandum of understanding this week aimed at coordinating oversight of digital assets and other emerging technologies. The agreement lays out plans for the agencies to share information, align definitions, and jointly review new crypto products.

Both regulators said one of the main goals is building a “fit for purpose” federal framework for crypto assets, an area that has long been slowed by overlapping rules and jurisdiction disputes. SEC Chairman Paul Atkins said that for years “regulatory turf wars” and duplicate registration requirements pushed companies to operate outside the United States.

This story is an excerpt from the Unchained Daily newsletter.

Under the agreement, the agencies will hold joint meetings with firms, coordinate enforcement actions, and consult each other when cases overlap.

The move does not create binding rules on its own, but it signals a shift toward more unified crypto oversight in Washington. Supporters hope that clearer coordination between the two regulators could make it easier to launch new digital asset products in the United States.