“Major reforms in the cryptocurrency industry! Deaton proposes merging the SEC and CFTC to provide unified regulation”

Cryptocurrency advocate John E. Deaton has put forward a bold proposal: to merge the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to simplify cryptocurrency regulation. Deaton believes that the current dual regulatory bodies have overlapping and conflicting roles, leading to market confusion. The merger would eliminate these issues and provide market participants with a clearer compliance framework.

Deaton also criticized the regulatory policies of SEC Chairman Gary Gensler, particularly the legal actions against companies like Ripple and Coinbase, which he argues stifles market development. Through the merger, the two agencies could unify regulatory standards, making it easier for businesses to comply with the rules and eliminating the blurry boundaries between securities and commodities. Deaton also mentioned that the global crypto market is becoming increasingly competitive, and the U.S. needs to enhance regulatory transparency to maintain a favorable position in the international market.

This call for a merger is not the first; Congressman John Rose has also proposed initiatives to promote cooperation between the two agencies. With Paul Atkins set to succeed Gensler, the market is full of expectations for new regulatory directions. Want to learn more about the future development of the crypto market? Follow Mr. Qiu as we explore more opportunities together!

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