Should the SEC and CFTC Merge? A Comprehensive Analysis of a Long-Standing Debate

The longstanding debate over merging the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) has gained fresh urgency after Elon Musk and Vivek Ramaswamy have reignited the conversation. While advocates argue a merger could simplify crypto regulation and bolster systemic risk management, critics warn of operational disruptions and political resistance. This article revisits the history of the merger debate, its modern relevance, and its implications for the future of U.S. financial regulation.