Regulators Rush to Fill Crypto Regulation Void
After the Clarity Act stalled in the Senate, US regulators are rushing to create a rulebook for cryptocurrencies.
The Securities and Exchange Commission (SEC) has expanded its crypto rulebook under existing authority, creating a temporary pathway for trading certain tokenized stocks. This move brings financial markets closer to 24/7 trading.
The Commodity Futures Trading Commission (CFTC) submitted a crypto rulemaking proposal to the White House for review, although details of the proposal were not made public.
Crypto industry leaders are eager for regulatory guidelines, which they believe will open up the industry to more investment and integration with traditional finance. They argue that regulatory uncertainty is holding back traditional finance's entry into the sector.