Coinbase Proposes US Create New Regulator to Oversee Crypto

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Despite Gensler’s assurances, the perception of crypto regulation in the U.S. has been that it is disjointed, with no single federal regulator assigned to the overall industry. The SEC oversees securities and has spent years filing enforcement actions against initial coin offering tokens and crypto startups accused of violating federal securities laws, while its counterpart, the Commodity Futures Trading Commission (CFTC), oversees crypto futures markets and certain illicit activities like market manipulation.