On the recordDecember 13, 2021
The more specialized the regulator, the more opportunities there are for the industry to 'capture' the regulator.
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congress.govThe more specialized the regulator, the more opportunities there are for the industry to 'capture' the regulator.
Toomey warns against specialized regulators for stablecoins due to potential industry capture.
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We owe it to each customer to get to the bottom of the FTX implosion, and any violations of the law should be aggressively prosecuted.
I think that there are a number of ways that you can go about creating a regulatory regime to take account of that risk.
Congress can and should offer a sensible approach for the domestic regulation of these activities.