Why US regulation is failing the cryptocurrency test

The US is a funny country. We have so many financial regulators that we sometimes wind up without proper financial regulation. Cryptocurrencies represent the latest example.

Publisert: Oppdatert:

US financial regulation is fragmented. There are multiple federal banking and market authorities, with overlapping jurisdictions, plus state regulatory systems. As Jamie Dimon, JPMorgan Chase’s chief executive, put it in his annual letter to shareholders: «There is no one real authority that can co-ordinate all the moving parts and bridge differences.»
US financial regulation is fragmented. There are multiple federal banking and market authorities, with overlapping jurisdictions, plus state regulatory systems. As Jamie Dimon, JPMorgan Chase’s chief executive, put it in his annual letter to shareholders: «There is no one real authority that can co-ordinate all the moving parts and bridge differences.» (Foto: Misha Friedman/Getty Images)