Tiffany Smith, a partner at Wilson Sonsini, said the CFTC and SEC should jointly oversee perpetual swaps (perps) rather than a single agency. Perps are a key part of crypto derivatives, and their regulatory framework must address both commodity and securities characteristics, reflecting ongoing industry debate over U.S. crypto regulatory authority.
Tiffany Smith, a partner at Wilson Sonsini, said the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) should share regulatory responsibility for perpetual swaps (perps), rather than leaving it to a single agency.
Smith noted that perps are a critical component of the crypto derivatives market, and their oversight must reflect dual commodity and securities attributes. This view adds to the ongoing industry discussion about the division of regulatory authority over cryptocurrencies in the U.S. (Laura Shin podcast)
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