The Commission’s ex-chairs Jay Clayton and Timothy Massad recently published a post in The Wall Street Journal indicating both parties’ desire for compatibility when it comes to crypto regulations. Introducing the possibility of creating a bi-partisan bill in such situations, the two argued that in order to ensure efficiency and understand the crypto space better, the SEC and CFTC should implement the concept of crypto-intermediaries. Adding that stablecoins also deserve particular attention when it comes to establishing certain regulations. The article addressed the current situation which sees both entities battling for jurisdiction over commodities such as Bitcoin & Ethereum. On the other hand, the former chair of a major financial watchdog in the states argued that SEC was launching lawsuits that could potentially be lost. The latest development is presented by the US lawmakers with the proposed Bill 8121 that seeks significant changes in the state Body, and if enacted, it will replace its existing chairman Gary Gensler.
