Bloomberg's editorial board has raised concerns about the effectiveness of U.S. regulatory efforts in the cryptocurrency sector, citing weakened agencies and insufficient resources. The "Genius Act" and "Clarity Act" bills aim to distribute regulatory responsibilities but may undermine key agencies like the OCC and SEC. The OCC has been weakened by layoffs and cyberattacks, while the SEC's authority could be diminished by shifting token oversight to the underfunded CFTC. The CFPB's near dismantling further complicates the regulatory landscape. Bloomberg calls for a unified legal framework by the SEC and CFTC to ensure market stability and investor protection, warning that without empowered regulators, the industry faces ongoing risks.