In a separate closed-door portion of the meeting, the regulators – including Gary Gensler, the head of the Securities and Exchange Commission (SEC), and Rostin Behnam, who runs the Commodity Futures Trading Commission (CFTC) – discussed the recent crypto market dramas. According to a summary of that conversation later released by the Treasury Department, the members are watching those developments closely and “spillovers to the traditional financial system have remained limited” so far.
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...