Will Senate ignore bipartisan ex-regulator proposals for crypto infrastructure? – Ledger Insights
Two former regulators have been making proposals for US crypto infrastructure regulations for years. Unfortunately, their pragmatic suggestions appear to be falling on deaf ears. Today Timothy Massad, the former Democrat Chair of the Commodity Futures Trading Commission (CFTC) is again providing testimony, this time in a Senate Banking Committee hearing.
He and former Republican SEC Chair Jay Clayton first proposed a joint self regulatory organization (SRO) tightly controlled by the CFTC and SEC in late 2022 after the collapse of the FTX crypto exchange. One of their most important principles is that one doesn’t have to decide whether each crypto is a commodity. If a platform trades bitcoin and Ether, then it’s a crypto…
