The FSOC – whose members include the heads of financial agencies, including the Federal Reserve and both the SEC and CFTC – is also preparing to recommend that U.S. regulators need to be able to reach into all corners of digital businesses. They not only need to be able to supervise a crypto firm, but also all of its affiliates and key service providers – like the Fed can do when it oversees Wall Street banks, the report will argue, asking Congress to grant that power.
US Risk Watchdog Poised to Ask Congress to Name Crypto Spot Market Regulator
