All-In

Rewriting the Rules: The SEC & CFTC on Crypto, IPOs & the Future of American Markets

with SEC Chair Paul Atkins & CFTC Chair Michael Selig
11 Mar 2026 5 min read 56m
TL;DR

The SEC and CFTC are coordinating to overhaul U.S. market rules: expanding crypto regulation, fixing the IPO drought, and eliminating outdated compliance burdens. Key priorities include changing accreditation rules, ending regulatory turf wars, and addressing emerging risks like AI trading bots and Gen Z retail gambling.

Key Moments
Paul Atkins
“[No transcript — approximate] Markets have fundamentally changed over my 40-year career, and our rules need to evolve with them”
Opening statement on how U.S. markets have transformed and why regulatory modernization is urgent
Paul Atkins & Michael Selig
“[No transcript — approximate] We're focused on fixing the IPO drought, clarifying crypto rules, and cutting unnecessary regulatory burden across both agencies”
Discussing the top three priorities driving SEC and CFTC action in 2026
Paul Atkins
“[No transcript — approximate] AI trading bots and autonomous hedge funds present novel risks we're actively monitoring—leverage and speed create new systemic concerns”
Addressing emerging technologies in capital markets and their regulatory challenges
Michael Selig
“[No transcript — approximate] Ending the turf war between SEC and CFTC is essential—we're moving toward a super app vision that eliminates redundant oversight”
Explaining how regulatory coordination will streamline compliance for market participants
Paul Atkins
“[No transcript — approximate] Changing accreditation rules is a priority for 2026—we need to update who can access investment opportunities in modern markets”
Outlining plans to democratize access to private markets and venture capital formation
About the show
›
All-In is a podcast where Jason Calacanis, Chamath Palihapitiya, David Sacks, and David Friedberg discuss the latest in tech, startups, and markets with newsmaking guests. In this episode, the hosts sit down with SEC Chair Paul Atkins and CFTC Chair Michael Selig to explore regulatory priorities reshaping American markets, from crypto classification to IPO reform.
Takeaways
1
SEC & CFTC coordinate to eliminate turf wars Rather than competing for jurisdiction over emerging asset classes like crypto, the two agencies are aligning on a 'super app' regulatory model that reduces redundancy. This signals a major shift toward unified oversight that could accelerate product launches and simplify compliance for fintech platforms.
2
IPO reform and accreditation rules are 2026 targets Both regulators are prioritizing changes to accreditation thresholds and quarterly earnings requirements to revive the moribund IPO market. Expect loosened restrictions on who can invest in private markets and potential shifts to bi-annual earnings reporting—moves designed to reduce compliance drag on companies going public.
3
AI trading and leverage pose systemic risks The regulators flagged autonomous trading bots, high-frequency traders, and leveraged strategies as emerging market manipulation vectors requiring new guardrails. Combined with Gen Z retail gambling on crypto, these represent the biggest near-term concerns for market stability and consumer protection.