[Major Wall Street regulatory agencies are advancing plans to regulate cryptocurrency and prediction markets] BlockBeats News, March 5, according to Bloomberg, major Wall Street regulatory agencies are advancing plans to regulate the crypto industry and the rapidly growing prediction markets. The proposed new measures are likely to have long-term impacts on the broader financial markets. After months of public statements from regulatory agencies and political maneuvering in Congress, the U.S. Securities and Exchange Commission (SEC), responsible for regulating the U.S. stock market, and the U.S. Commodity Futures Trading Commission (CFTC), responsible for overseeing derivatives trading, have submitted the relevant plans to the White House. Specific details are not yet clear, but this procedural advancement has become one of the most substantive moves by market regulatory agencies under the Trump administration to date.