The dry crypto working group met with strategy president Michael Saylor, representatives of the Crypto Council for Innovation and Miter Corporation to discuss the best approach to regulate cryptographic assets in the United States on February 21.
According to service notes shared by the SEC, the staff of the working group examined a framework document defining cryptographic taxonomy and a regulatory structure during the meeting.
The document classifies digital products such as Bitcoin (BTC), digital titles linked to transmitters, digital currencies supported by Fiat, digital tokens with defined utility, non -failed tokens for unique digital applications and ABT digital assets physical goods.
It establishes rights and responsibilities for issuers, exchanges and asset owners by calling for fair disclosure, transparent guard practices and membership of local laws. The framework also offers standardized disclosure, industry -led compliance processes and assets’ emission and maintenance cost limits.
In addition, the presentation of Saylor has highlighted the potential of a faster and less expensive asset issue, wider access to the market and a change in capital markets that could strengthen the US dollar and reduce debt national thanks to strategic measures such as a Bitcoin reserve.
Revisit the markup
Representatives of the Crypto Council for Innovation (CCI) have recommended to clarify the regulatory processing of jealous services, passive blockchain data platforms and rewards based on incentives.
Reunion included 20 representatives of several cryptography players, such as Coinbase, A16z and Filecoin Foundation.
They proposed that guidelines or reductions without action be issued to confirm that the faith services and related infrastructure providers are not subject to securities laws. This change could allow negotiated products in exchange for crypto to include implementation activities in their deposits.
The CCI also recommended that platforms offering blockchain exploration tools and non-web-web3 markets will be excluded from the definitions of brokers, exchanges or alternative trading systems when these platforms only provide access functions or data display.
The recommendations have also called for advice to define a non-security status for non-butties used mainly as artistic works, collectibles, virtual land or similar non-financial applications.
Additional proposals included the issuance of non-action letters, the break in compliance measures only and the modification of regulatory processes to take into account decentralization and chain trading. These measures aim to balance investor protection with support for industry innovation.
The Council has urged the dry to rely on previous decisions and the momentum of the industry to improve regulatory clarity and the protection of investors in the United States.
Information focused on stablescoins
Mite Corporation presented research and development activities focused on the cryptography market and its regulatory implications.
Operating as a research and development center funded by the Federation of the American Treasury, the company described its work on an approach based on the logic of the regulation of stablescoin, by developing workflow tools to support the treatment of Comments and the use of policies visualization systems to identify regulatory dependencies.
Miter has also detailed his platforms for sharing threats of digital assets and a cyber-menace framework for the crypto.
The results of the research discussed at the meeting revealed a centralization hidden within decentralized finance, underlined the need for banking stress tests in the scenarios coupling decentralized finance (DEFI) and traditional finance, and suggested to put Work of circuit breakers at the level of the intelligent contract to alleviate the propagation of risks.
Miter’s technical work is designed to support dry regulations by providing data -based information and innovative tools to develop a regulatory framework capable of meeting challenges of digital asset ecosystem.
The meeting ends with a complete examination of proposals and research aimed at establishing a regulatory framework which supports innovation while ensuring market integrity.
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