On May 2, the U.S. Commodity Futures Trading Commission (CFTC) reiterated the importance of coordinating and harmonizing regulatory requirements with the SEC. In prepared remarks issued before FIA’s 40th Annual Law and Compliance Conference, CFTC Commissioner Brian Quintenz stated that its internal cryptocurrency enforcement task force will work in cooperation with its SEC counterparts on cases involving virtual currency. “Both agencies’ Divisions of Enforcement have demonstrated their commitment to work closely to prosecute fraud and ensure that differences in product nomenclature do not enable bad actors to slip through jurisdictional cracks,” Quintenz said. The agencies plan to update their existing 10-year-old memorandum of understanding to facilitate the sharing of information related to, among other things, swaps and security-based swaps data, fintech developments, and market events.