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John E. Deaton Calls for SEC-CFTC Merger to Simplify Crypto Regulations
A renowned advocate for the cryptocurrency industry, John E. Deaton has recently emphasized the need for a merger between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This consolidation would aim to streamline the current regulatory landscape and ensure clarity in the crypto sector.
Deaton expressed his views on the matter during an appearance on Mornings with Maria, where he joined Perianne Boring for a discussion. In their conversation, they touched upon the challenges created by having separate agencies oversee financial markets. Deaton firmly believes that merging the SEC and CFTC would eliminate any confusion and inefficiency in the regulatory framework.
The proposed merger would also lead to more consistent approaches to regulation, allowing companies to navigate the rules with greater ease. Furthermore, a single regulator could facilitate alignment with other countries’ regulatory frameworks, thereby fostering global competitiveness for the United States’ financial markets.
Deaton also brought up the case of XRP (XRP), which he used as an example of regulatory discord. He emphasized that having one unified regulator would eradicate such issues and provide greater consumer protection.
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