In theory, reducing the time periods for which a trade is open and unsettled cuts risk. In practice, whether this is operationally feasible is the question. The various market participant organizations all seem to be supportive, so presumably it can be done.

The SEC's approach to the regulation of utility tokens is fundamentally flawed in that it effectively disallows a product that has potentially very significant economic value. See . While the CFTC does not seem the obvious regulator of these products (as opposed to the SEC), perhaps Congress will decide that it is better to empower a regulator to oversee digital assets rather than one that seems inclined to outlaw many of them.

FSOC's authority to regulate nonbank financial institutions is overly discretionary and ought to be done away with (see ).

While this report is well written, it reflects a political bias towards over-reliance on regulatory authorities in times of financial crises. With regard to the designation by FSOC of firms as being "systemically significant," the authors complain that firms were de-designated after reducing their systemic significance, as if downsizing of the relevant firms were somehow an evasion of the regulation, or as if FSOC ought to have continued to regulate the firms even after they stopped being…