John E. Deaton and other supporters of the crypto industry are calling for the merger of the SEC and the CFTC to create a unified regulatory framework. They argue that having two separate agencies overseeing financial markets creates confusion and inefficiency. A merger would simplify regulations for cryptocurrencies, provide clarity for investors and businesses, and align the U.S. with other countries that have a single financial regulator. U.S. Congressman John Rose has introduced a bill to establish a Joint Advisory Committee on Digital Assets, which would facilitate collaboration between the SEC and CFTC and guide the harmonization of laws pertaining to digital assets.



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