The regulatory framework is expanding again, but if the people and funds are not in place, it's just talk on paper. Klein speaks quite practically about this.

Brookings Institute researcher Aaron Klein said that the “CLARITY Act” currently being considered by the U.S. Congress could expand the CFTC’s regulatory responsibilities for the digital asset market, but that without additional budget, personnel, and expertise support, it may result in a scenario of “regulation without effective oversight.” Klein also noted that the SEC and CFTC’s split regulatory responsibilities may lead to reduced coordination efficiency and recommended strengthening collaboration between the two agencies.