US Treasury recommends lawmakers decide which regulators will | Crypto News

US Treasury recommends lawmakers decide which regulators will oversee crypto spot market

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U. S. lawmakers pass legislation to determine which “rulemaking authority” will be responsible for regulating parts of the crypto spot market. In an Oct. 3 meeting of the FSOC, Jonathan Rose, a senior economist at the Federal Reserve Bank of Chicago, said the FSOC had released a report in accordance with President Joe Biden’s executive order on crypto, detailing potential financial stability risks of digital assets and regulatory gaps...