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Brookings Institution researcher warns: The "Clarity Act" may lead to a situation of "regulation in name only, without real regulation"

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ME News Report, May 29 (UTC+8), Brookings Institution researcher Aaron Klein stated on the program The Policy Protocol that if the Clarity Act expands the authority of the U.S. Commodity Futures Trading Commission (CFTC) to regulate cryptocurrencies but does not come with adequate staffing, budget, and expertise, it could lead to “apparent regulation but lack of substantive oversight.” Klein noted that the CFTC was originally designed solely for the futures market, making it difficult to handle the scale of the proposed crypto regulation, and said that the agency’s regulatory capacity has weakened in recent years due to staff losses and organizational restructuring. He looked back on the experience from the Dodd-Frank era, saying that heavy-handed oversight and fragmented allocation of responsibilities can lead to delays and regulatory gaps, and he fears the same could happen again in the crypto and prediction markets. He also criticized political interference in financial regulation, arguing that the CFTC and SEC should strengthen coordination, and that in the long term, consideration should be given to merging the two agencies. (Source: PANews)
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GlassDomeBaskingInMoonlight
· 9h ago
The longstanding problem of multiple regulators persists; the SEC and CFTC are fighting over jurisdiction, and project teams suffer.
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GateUser-c1cab702
· 9h ago
Whether to merge or not is secondary; the real issue is the lack of manpower and budget.
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