Clarity Act Risks Regulation Without Oversight, Brookings Fellow Says
Summary
Lawmakers are weighing a broader crypto role for the Commodity Futures Trading Commission, and that could sharply expand its mandate. The Clarity Act debate is increasingly centered on whether the CFTC can effectively oversee digital asset markets. Klein argued that the agency would need more capacity and authority if it is given this responsibility, and criticized claims that political influence is distorting financial regulation. A longer-term fix, in this view, would be tighter coordination among U.S. market regulators. The bigger takeaway is that regulatory structure may matter as much as the substantive rules for crypto oversight.
