THE Commission of securities‘s (dry) Crypto working group held the first of what must be a series of round tables focused on different aspects of cryptographic asset regulation.
The round table on Friday March 21 was entitled: “How we got here and how we go out – define security status»And focused on legal issues implied In the classification of cryptographic assets under federal laws on securities.
President of the dry Mark T. Uyeda said in his Remarks at the round table only because it is not uncommon to see differences of opinion between various courts, the dry and its staff intervened provide advice in the past when they deal with other problems.
“This approach to the use of the regulations for notice and trade or explanation of the Commission’s reflection process through liberation – rather than through application measures – should have been considered to classify cryptographic assets under federal securities on securities,” said Uyeda. “Today’s round table is an important first step to respond to this concern.”
Dry commissioner Hester M. Peirce said in her Remarks The fact that two months ago, the formation of the Crypto Task Force marked a restart of the dry approach to the regulation of cryptography.
“To do well, we must tackle certain fundamental questions about security status,” said Peirce.
These questions include: what does something Safety? Is this status permanent? How does decentralization affect the analysis? Can we translate the characteristics of Safety In a simple taxonomy that will cover the many different types of cryptographic assets that exist today and will exist in the future?
Dry commissioner Caroline A. Crenshaw said in her Remarks That when you discuss the safety state of cryptographic assets, “the issues could not be higher”, as this implies the legal foundations of the American capital markets.
“That said, I understand that there is a point of view that the current law does not work for the crypto,” Crenshaw told participants of the round table. “And I agree that politics must keep up with the pace of new products and technologies. I welcome a diversity of points of view and urge you to present these points of view with particular attention to the advantages and potential costs of the proposed actions. ”
SEC announced its working group on crypto Jan. 21, saying that the group focuses on the development of a “complete and clear” regulatory framework for cryptographic active.
