Regulations orchestrated by the government rarely reach consensus. To that extent, Brian Quintenz - a commissioner at the CFTC - is proposing to the crypto community to form a self-regulating body.
According to Quintenz, self-regulation would have the advantage of being faster and more comprehensive than that initiated by the government, in addition to giving credibility to the crypto space
"I believe a private regulation and observation group could bridge the gap between the status quo and future government regulation initiatives. Before the Congress makes a decision on who should regulate the exchanges and how to proceed, I suggest that the community get together and try to form an independent regulatory body that has teeth and can enforce certain rules to 'add credibility to the market.' Brian Quintenz
The Commissioner therefore thinks that the current regulatory vagueness could play in favor of the crypto community, if the latter shows organization in a common effort towards regulation. One wonders what Vitalik Buterin - co-founder of Ethereum - thinks about it, given his statements about the maturity of the crypto community.