Though congressional leaders have continued to spar over the best course of action for crypto regulation, getting a bill to the president’s desk may only be the start of the battle.
Federal policy expert Dorothy DeWitt cautoned crypto companies on Friday that even if policy advances, rules can take a decade or more to pass.
DeWitt served as former chief finance counsel to the Senate and former director of the CFTC’s division of oversight.
“Rulemaking takes forever,” DeWitt said during a panel in New York Friday at an event hosted by Lowenstein Sandler law firm and Rutgers law school.
DeWitt pointed to the Dodd Frank Act, which was published in 2010, but its final rules were not passed through the CFTC until 2021.
“It’s really hard to get folks who have little interest [and] little understanding and who are afraid of really complex issues to come together,” she said.
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