Brandon Ferrick, lawyer general of Douro Labs, said that the opening of the Securities and Exchange Commission (SEC) to the public’s contribution to cryptographic policy and that their round discussions are positive signs that the cryptographic industry does not currently know the regulatory capture.
In an interview with Cintelelegraph, Ferrick identified signs of regulatory capture, in particular, a renewable door from the public sector to private, the same list of participants during regulatory events and a special treatment granted to certain cryptographic projects. However, Ferrick added:
“The reason why I am not worried today is that a large part of what you see on the regulatory side, such as dry, for example, is completely open, public and there are available opportunities to have conversations with regulators on change or reflection on regulatory structures.”
“(SEC) has a public portal where you can simply submit written comments to your reflections for the cryptographic regulatory environment, and you can plan meetings with them,” continued the lawyer.
While the cryptographic industry is more integrated into the traditional financial system and more engages in state regulators, certain analysts and managers fear that the industry will experience regulatory capture which will distort incentives and politicize the in full swing cryptographic sector.
In relation: SEC staff give advice on how securities laws could apply to crypto
The dry hosts several round paintings on cryptographic policy
The SEC has welcomed several cryptographic round table discussions and panels, with more expected months in the coming months – a net contrast of the regulatory approach compared to the agency under the former president of the SEC, Gary Gensler.
On March 21, the regulatory agency organized its first cryptographic round table, which presented leaders of the cryptographic industry, man officials and even opponents of the cryptographic industry.
The former SEC official, John Reed Stark, was very critical of industry and opposed the full regulatory reform, arguing that digital assets must comply with the laws in terms of existing securities.
The Round Table of April 11 of the SEC focused on negotiation rules and included a different set of panelists, including representatives of Uniswap and Coinbase.
The next Panel of the SEC will take place on April 25 and will focus on creating directives for crypto guards and other companies that hold crypto on behalf of customers.
Review: The U-turn of the dry on the crypto leaves key questions unanswered
