Brookings Researcher Warns Clarity Act May Result in Regulatory Name Without Substance

According to CoinDesk, on May 29, Aaron Klein, a researcher at the Brookings Institution, warned that if the Clarity Act expands the U.S. Commodity Futures Trading Commission's (CFTC) authority to regulate crypto assets without providing adequate staffing, budget, and expertise, it could result in regulatory oversight lacking substance. Klein noted that the CFTC was originally designed for futures markets and may struggle with the proposed scale of crypto regulation, adding that the agency has weakened its regulatory capacity due to recent staff losses and structural changes.
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