Crypto’s Big Regulatory Overhaul May Crawl Through Years Of Policy Creation: Exec
A top policy official at crypto firm Paradigm warns that a major US regulatory overhaul for cryptocurrency could take years to implement, despite lawmakers unveiling a draft bill. The bill, released by US lawmakers, aims to clarify whether tokens are securities or commodities and assigns oversight of many spot markets to the CFTC. However, Paradigm's Justin Slaughter notes the bill would require approximately 45 separate rules to be written by regulators. He compares the timeline to the post-Dodd-Frank era, which took three to eight years for rules to be finalized. This lengthy process, involving drafting, public comments, and potential legal challenges, would leave the industry in a state of prolonged uncertainty. Industry groups are preparing for phased changes, but bottlenecks like political turnover and debates over DeFi could further slow progress, potentially stretching the rulemaking across two presidential terms.
bitcoinist01/14 18:32
