With Democrats performing better than expected and Bankman-Fried’s fall from grace, experts say any legislation likely will take even longer. Amid the regulatory vacuum, that means the winners will be the Securities and Exchange Commission and the Commodity Futures Trading Commission, which can continue making ad-hoc enforcement decisions and jockeying for power.
“The longer it takes Congress to do anything, the more the SEC and the CFTC are going to feel the need to step in,” said Charley Cooper, managing director at blockchain firm R3 and a former chief of staff at the CFTC.
‘Enforcement 40’ for 2020
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