The US Securities and the Stock Exchange Commission may be on a more constructive stance on digital assets. In the first crypto Task force round fairy tale In Washington, at DC, the best legal minds, policy experts and industrial contentrs discussed how the agency should define and edit the crypto forward.
The event is among the major changes in the SEC, including the separation of former president Gary Gensler and a new management that seems more open to the reform. Acting President Mark Uyeda appointed the commissioner Hester Peirce, who has long known for his long -term crypto -friendly views to lead the newly created duty force.
Peirce, the meeting
Restarting the Commission’s approach to crypto regulation.
This change was repeated by Miles Jennings, A16z Crypto General Advisor, who did not withdraw his criticism of past efforts. Jennings referring to the failures of investor protection, capital formation and market efficiency.
I do not think that no one can reliably claim that the approach of the last administration has achieved the targets of SEC. The current approach is clearly a failure and we must do better.
Rethinking what is important in security
One of the main questions discussed was what really created security in the context of crypto. Coley LLP’s special adviser Rodrigo Seira argued that only an investment intention has not made a securities agreement. He likened the purchase of buying works, which were partially directed with the potential of appreciation, but naturally not subject to the law of securities.
Not everyone accepts. For a long time, crypto critic John Reed Stark insisted that most buyers would act as an investor and need regulatory protection. Nevertheless, even Stark admitted that laws could be developed to reflect the unique nature of digital beings.
As Peirce now leads to the task force and more industry sounds, the SEC can finally go beyond execution-execution tactics. This seems to be more clearly directives or new legislation – but the agency’s tone is already starting to change.
