No programa matinal com Maria, Boring expôs a confusão e os conflitos que causa aos mercados financeiros ao ter dois reguladores separados supervisionando as suas atividades. Deaton, em sua postagem no X, concordou com Boring, destacando a confusão e a ineficiência que isso causa às agências. Ele disse que, ao fundir os dois reguladores, seriam capazes de eliminar responsabilidades sobrepostas e conflitos que surgiram no passado. Também tornaria as coisas mais fáceis para as empresas, ajudando-as a seguir as regras. Excelente trabalho de @PerianneDC em @MorningsMaria com @MariaBartiromo discutindo como @elonmusk e @DOGE de @VivekGRamaswamy podem querer pressionar pela fusão de @CFTC e @SECGov . John E. Deaton defende órgãos reguladores conjuntos
Há tron argumentos a favor da fusão das duas agências. A fusão da SEC e CFTC eliminaria… https://t.co/dLdSSVXyxs
Deaton also mentioned that the move will also help the agencies provide a consistent and straightforward approach to making rules for securities like stocks, and commodities like Bitcoin and other assets.
He believes that grey areas in the financial market should be removed, and having one regulator would help the United States achieve this. “This would simplify compliance for market participants, especially as financial products increasingly blur the lines between securities and commodities,” he said.
John E. Deaton also mentioned the need for the United States to step up its regulatory clarity, highlighting the competitive global crypto market.
Meanwhile, Elon Musk and Vivek Ramaswamy of the newly established Department of Government Efficiency (D.O.G.E) could be the mouthpiece and advocate achieving the much-needed merger. Aside from the merger providing clear and precise regulations in the market, it could also help the country cut costs by reducing funds allocated to them.
The new merger would also assure crypto investors and firms alike of a new dawn in the country. With the pro-crypto Paul Atkins set to replace the outgoing Gary Gensler as SEC Chair, there is already optimism in the country about the direction of the crypto sector under the new administration. Adding the merger of these two organizations would only bolster that optimism, helping the industry in the long run.
John E. Deaton also touched on the payment sector, noting that it is another area that needs work. He highlighted the federal agencies overseeing the payment sector, pointing out that there are over a dozen.
With a unified agency, which would bring about a unified regulatory framework, these agencies would be streamlined to achieve more efficiency. He used XRP as an example, noting that the FinCEN said it was a virtual currency in 2015, only for the SEC to say it was a security years later.
This is not the first advocacy for a joint relationship between the SEC and CFTC, with Congressman John Rose submitting a proposal to foster collaboration between both bodies on September 12.
In the ‘Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets Act,’ the committee will involve experts, and users to help the agencies streamline laws that will enable efficient use of blockchain technology and consumer protection.
The committee will comprise 20 members of non-government staff and a representative of the SEC and CFTC. The meetings will be twice annually, with their recommendations requiring public input to foster transparency.
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