Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

SEC Crypto Roundtable Explores Unified Licensing and Regulatory Clarity

Share This Post

SEC drops lawsuits against major crypto firms

The post SEC Crypto Roundtable Explores Unified Licensing and Regulatory Clarity appeared first on Coinpedia Fintech News

The second roundtable hosted by the SEC’s Crypto Task Force was held in Washington, with the purpose of addressing how the existing regulatory framework can better facilitate crypto asset trading in the United States. 

Mark Uyeda opens the event

Acting Chairman Mark Uyeda presided over the session, joined by Commissioners Hester Peirce and Caroline Crenshaw. The conference was called “Between a Block and a Hard Place” and brought together the most important players from both the traditional and crypto finance world to achieve practical solutions for making blockchain technology a part of the current markets.

Nicholas Losurdo serves as moderator

The panel members were representative of a broad spectrum of institutions. Nicholas Losurdo, a partner at Goodwin Procter LLP, was the roundtable moderator. Gregory Tusar, Coinbase’s Vice President of Institutional Product, provided perspective from one of the largest US crypto exchanges. 

Tyler Gellasch emphasizes crypto broker registration

Tyler Gellasch, President and CEO of Healthy Markets Association, made a strong point about crypto brokers registering with regulators so that there is transparency and improved oversight of the markets. He also made the point that brokers should know whom they are dealing with, instead of just encrypted information.

Jon Herrick, New York Stock Exchange Chief Product Officer, discussed the effect of ETF approvals, indicating that they have simplified investor entry into digital assets through known and regulated pathways. He further noted that ETFs potentially enable traditional financial institutions to utilize digital assets in new ways, most notably as collateral.

Dave Lauer supports transparency and fair markets

Richard Johnson, founder and CEO of Texture Capital, and Dave Lauer, co-founder of Urvin Finance and We the Investors, both commented on how markets might evolve to facilitate tokenized assets. 

Chief Legal Officer of Uniswap Labs Katherine Minarik represented the DeFi industry and the ways decentralized platforms are structured differently than traditional exchanges. Christine Parlour, Finance and Accounting Chair at UC Berkeley, offered academic perspectives on structural changes required to enable regulation to be more effective.

Chelsea Pizzola, Associate General Counsel at Cumberland DRW, and Austin Reid, FalconX Global Head of Revenue and Business, added their legal and institutional trading industry perspectives in the crypto sector.

Hester Peirce reflects on learnings from the first roundtable

Hester Peirce, a Commissioner of the SEC, said that she found the initial roundtable useful in informing her opinion on when crypto assets would be subject to securities laws. She hoped this roundtable would be as fruitful, pointing to the diversity of participants—from national securities exchanges and alternative trading systems to crypto-native companies.

Richard Gabbert, the head of the Crypto Task Force, was supposed to emphasize the importance of investor-centric regulation. The conversation pointed out that existing federal regulations were not written with blockchain and decentralized finance in mind, resulting in mismatches between how crypto markets operate and how they are regulated.

The roundtable also discussed the age-old problem of state-by-state licensing under which crypto exchanges such as Coinbase have to get licensed in all 50 states. Many in the industry are advocating for one SEC license with which they can operate nationwide, which would ease compliance and make operating less cumbersome.

Panelists explained how current rules such as the order protection rule or prohibitions on listing unregistered securities cause issues when attempting to bring tokenized securities into traditional markets.

They also recognized that crypto platforms tend to be different, having custody, clearing, and execution all on the same platform, as opposed to the distinct systems in traditional finance.

In spite of these difficulties, there was a general optimism about the potential of blockchain to transform the way markets operate. From 24/7 trading through smart contracts to enhancing collateral management and settlement of transactions, the roundtable demonstrated that most industry leaders view blockchain as a means to make financial systems more efficient. 

The SEC is weighing whether to grant temporary exemptions to spur innovation while longer term rules are being formulated.

In total, the roundtable emphasized that regulators and market participants must work together to develop a framework that benefits both innovation and investor protection.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

SUI Short-Term Spark Fades: Rejection At $3.95 Triggers 6% Slide

SUI is attempting to regain traction, currently trading at $36292 with a modest 134% uptick on the 4-hour chart noted by Crypto Man MAB in a recent X post After reaching a 24-hour high of $39599, the

Weekly Crypto Wrap: Bitcoin’s Surge Stalls Amid Trump Tariff News; Analyst Predicts $140,000 by July

Bitcoin ended the week 5% higher after US President Donald Trump’s tariff threat against the European Union caused market volatility EU Tariff Threat Rattles Markets After kicking off what turned

Bitcoin Sets New Highs But Altcoins Struggle 30% Below ATH – Details

Bitcoin is thriving once again, defying global macroeconomic turbulence and pushing into uncharted territory Earlier this week, the world’s largest cryptocurrency hit a new all-time high of

Market Expert Projects ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Here’s How

The price of Litecoin has been somewhat indecisive this year, and the past week is a prime example of this disappointing trend While the world’s largest cryptocurrency, Bitcoin, reached a new

Blackrock’s IBIT and ETHA Lead Friday’s Crypto ETF Inflows

Spot bitcoin and ethereum exchange-traded funds saw a combined $27037 million in inflows on Friday, continuing a trend of institutional engagement with these crypto-backed funds Spot Bitcoin ETFs Now

The Stars Align: Crypto Analyst Predicts 1,700% Rally For XRP In 2 Months

A crypto analyst has predicted that the XRP price could increase by a staggering 1,700% over the next two months If accurate, this explosive move could catapult the altcoin well above its current