Bloomberg: Insufficient regulatory power and resources, US crypto legislation may not achieve expected results Odaily Planet Daily News: Bloomberg's editorial committee recently commented that although the US Congress is pushing for the establishment of a clearer legal framework for digital assets, attempting to strengthen constraints on illegal behavior while supporting technological innovation, this legislative process may not achieve the expected results in the current situation where regulatory powers are weakened and enforcement resources are clearly insufficient. The article points out that the Genius Act related to stablecoin regulation disperses multiple core responsibilities to different regulatory departments, among which the Office of the Superintendent of Currency (OCC), which plays a key role, has significantly limited its enforcement capabilities after experiencing layoffs and cybersecurity incidents. At the same time, the Clarity Act intends to adjust regulatory division of labor, weaken the jurisdiction of the US Securities and Exchange Commission (SEC), and bring most tokens under the supervision of the Commodity Futures Trading Commission (CFTC). However, the latter's budget size is only a small part of the SEC's, and human and enforcement resources have long been tight. In addition, the functions of the Consumer Financial Protection Bureau (CFPB), which had previously handled consumer complaints in the encryption field, have been significantly reduced, further weakening the integrity of the overall regulatory network. Bloomberg believes that promoting the wider entry of cryptocurrency assets into the public and institutional investment fields may backfire in the context of inadequate regulatory capacity. Once fraud and illegal activities continue to be exposed, market confidence and industry development may actually be impacted. The article suggests establishing a unified trading regulatory framework for difficult to classify digital assets such as Bitcoin and Ethereum, and jointly formulating rules by the SEC and CFTC to strengthen market stability, information disclosure, and investor protection. The comment concludes with a warning that the cryptocurrency market will remain in a state of "risk-taking" for a long time until Congress truly provides regulatory agencies with sufficient authorization, professional capabilities, and resources. (Bloomberg)