In a world where the crypto industry dances on the edge of regulatory oblivion, Brandon Ferrick, the esteemed general counsel at Douro Labs, proclaims with a flourish that the Securities and Exchange Commission (SEC) is, in fact, a beacon of openness. Yes, dear reader, he suggests that their willingness to entertain public input on crypto policy is a sign that we are not, as some might fear, in the throes of regulatory capture. How delightful! 🎉
During a tête-à-tête with CryptoMoon, Ferrick, with a twinkle in his eye, pointed out the telltale signs of regulatory capture: a revolving door of employees flitting between public and private sectors, the same familiar faces at every regulatory soirée, and, of course, the special treatment bestowed upon certain crypto darlings. Yet, he reassures us:
“The reason why I am not worried today is that a lot of what you’re seeing from the regulatory side, like the SEC, for example, is totally open, public, and there are available opportunities to have conversations with the regulators about changing or thinking about the regulatory structures.”
Ah, the SEC has a public portal! A veritable treasure trove where one can submit their musings on the crypto regulatory landscape and even schedule a chat with the regulators. How quaint! 🧐
As the crypto realm entwines itself ever more closely with the traditional financial system, some analysts and executives, with furrowed brows, express their concerns. They fear that the industry is teetering on the brink of regulatory capture, which could skew incentives and politicize this burgeoning sector. Oh, the drama! 🎭
SEC Hosts Several Roundtable Discussions on Crypto Policy
In a delightful twist, the SEC has been hosting a series of crypto roundtable discussions, with more on the horizon. This is a stark departure from the regulation-by-enforcement approach of the former SEC chairman, Gary Gensler. How refreshing! 🌊
On March 21, the regulatory agency held its inaugural crypto roundtable, featuring a motley crew of crypto executives, SEC officials, and even some vocal opponents of the crypto industry. A veritable feast of opinions!
Former SEC official John Reed Stark, with a critical eye, lambasted the industry and opposed any comprehensive regulatory reform, insisting that digital assets must comply with the existing securities laws. How very traditional of him! 📜
The SEC’s April 11 roundtable, focusing on trading rules, showcased a different ensemble of panelists, including representatives from Uniswap and Coinbase. A veritable parade of crypto luminaries!
Mark your calendars, for the next SEC panel is set for April 25, where they will discuss guidelines for crypto custodians and other firms holding crypto on behalf of customers. Will they finally get it right? Only time will tell! ⏳
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2025-04-19 20:58