Brookings fellow Aaron Klein argues the CLARITY Act would dump expanded crypto market authority on a CFTC that's been hollowed out by personnel departures and chronic underfunding, creating "the appearance of regulation without meaningful oversight." Klein also called the SEC-CFTC coordination model broken — the MOUs between agencies haven't produced real cooperation, and fragmenting digital asset oversight risks repeating past financial failures. He laid out the case on CoinDesk's The Policy Protocol with Rebecca Rettig and Renato Mariotti.

TLDR by @Benthic