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Crypto

U.S. SEC, CFTC leadership vacuum drags on, could it aid Clarity Act?

The U.S. Securities and Exchange Commission has changed its quorum rules, making it easier to push through cryptocurrency-related regulations despite a shrinking number of commissioners. The SEC and the Commodity Futures Trading Commission are operating with 2 and 1 members, respectively, amid prolonged vacancies. With Congress stalled on the Clarity Act, both agencies are moving to refine oversight through rule changes, prompting concerns they are effectively substituting for legislation.

Crypto

U.S. House Financial Services chair says SEC, CFTC steps not enough, calls for Clarity Act

French Hill (프렌치 힐), chair of the U.S. House Financial Services Committee, said regulatory steps by financial authorities alone would not be enough to create stability in the crypto market and again stressed the need for the Clarity Act. He said the SEC and CFTC are working on digital asset rules but cannot replace legislation. Hill pointed to a tight post-election Senate schedule and leadership gaps at both agencies as key variables.

Crypto

SEC, CFTC vacancies leave U.S. crypto regulatory leadership thin

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission will have only three commissioners left after this weekend, as vacancies across the two agencies rise to seven. Republican SEC commissioner Hester Peirce is stepping down, leaving the SEC with two members and the CFTC with one. The White House has not announced nominations. With Congress failing to pass crypto legislation, the agencies are pressing ahead through rulemaking and interpretations.