Kathy Kraninger, former director of the United States Consumer Financial Protection Bureau, or CFPB, said while many in crypto have complained about the lack of regulatory clarity in the country, the legal gray area has afforded the industry opportunities.
Speaking to Cointelegraph, Kraninger said Congressional action on dividing the roles of different regulatory agencies — including the Securities and Exchange Commission, or SEC, and Commodity Futures Trading Commission, or CFTC — would be the “best outcome” in her view. However, she added it was unlikely any single department would have total control over the variety of investment products related to the digital asset space.
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