GAO report on blockchain and financial services issued today. GAO is an arm of Congress. The report was requested by House Financial Services Ranking Member Waters (D-CA) and Digital Asset Subcommittee Ranking Member Lynch (D-MA).
It discusses the alphabet soup of regulators. It states that the spot markets and stablecoins need legislation. The rest of it is mostly about regulatory coordination/comprehensive regulation. Typically “comprehensive” regulation in the US is regulation by the Federal Reserve.