Key Takeaways:
- US SEC’s crypto task force conducted its first roundtable to discuss the new regulatory framework and security concerns of blockchain.
- Considered the ignition of new beginnings, the roundtable aids Trump’s vision to make the U.S. the crypto capital of the world.
- The event witnessed the participation of SEC members, legal experts, and blockchain leaders, and allowed the public to ask questions.
The U.S. Securities and Exchange Commission conducted its first crypto task force roundtable on Friday, discussing securities and commodities laws in the light of digital assets. The conference saw debates regarding whether the crypto realm requires the creation of a new and separate regulatory framework. Various crypto officials and industry experts participated in the discussion.
Crypto task force’s leader, Republican SEC Commissioner Hester Peirce, considers the inaugural roundtable discussion as the beginning of a new approach to crypto regulation. Moderated by Troy Paredes, the founder of Paredes Strategies LLC, it was the first discussion in the “Spring Sprint Toward Crypto Clarity” series. The event was open to the public, and it was live-streamed on the SEC website.
Opinions And Insights From SEC’s Crypto Task Force Inaugural Roundtable
The event, titled “How We Got Here and How We Get Out – Defining Security Status.” witnessed discussions on key areas regarding the regulation and security of digital assets, with varying opinions and debates. While various panelists favored the modification of the law, others were concerned about the risks.
Democratic SEC Commissioner Caroline Crenshaw was worried about the potential negative domino effect that will affect other areas of the market when modifications happen in favor of cryptocurrencies. “Modifying the law to facilitate the success of a chosen product category is fraught with risk,” he added.
The major discussion surrounded the creation of a new regulatory framework solely for crypto. The signing of the strategic crypto reserve, the organization of the crypto summit in the White House, and the withdrawal of various crypto-based lawsuits have made the Trump-driven U.S. government the most pro-crypto nation in the world. We can see new policies and frameworks arriving soon, adding to Trump’s motto to make America the crypto capital of the world.
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List Of The Roundtable Panelists
The roundtable, open to the public, witnessed the participation of a dozen panelists, moderated by Troy Paredes. Starting around March 21st at 1:00 PM, the discussion concluded with attendees asking questions to the panelists. The total of panelists follows.
- Collins Belton – He is the Managing Partner of Brookwood P.C., a law firm that focuses on early startups and embryonic companies.
- Sarah Brennan – She is the General Counsel of the research-driven investment firm Delphi Ventures. She has advocated for decentralized infrastructure and supported various open-source frameworks.
- Chris Brummer – He is the CEO of blockchain-based startup Bluprynt and the Professor of Financial Technology at Georgetown Law
- Lewis Cohen – He is the Co-Chair of digital asset service provider CahillNXT. With his career-long expertise in finance, he is a regular public speaker on cryptocurrencies.
- Coy Garrison – As a partner of Steptoe LLP in Washington, DC, he participates in the firm’s blockchain division.
- Teresa Goody Guillen – She is a part of BakerHostetler’s digital asset team, involved in litigation, investigations, and corporate matters.
- Miles Jennings – He is the General Counsel of a16z Crypto, a venture capital fund. He specializes in legal, regulatory, and policy matters of the firm.
- Troy Paredes – The founder of Paredes Strategies LLC, Troy Paredes acted as an SEC Commissioner from 2018 to 2023. He acted as the moderator of the program.
- Lee Reiners – Lee is a lecturing fellow at Duke Financial Economic Center and Duke Law. His primary research focuses on the general regulatory framework’s relationship with emerging technologies and climate change.
- Benjamin Schiffrin – He is the Director of Securities Policy, at Better Markets. Before joining the firm, he worked at SEC for 18 years.
- Rodrigo Seira – With years of experience in blockchain-based investment funds, he is now the Special Counsel at Cooley LLP, a global law firm.
- John Reed Stark – He runs a data breach response and digital compliance firm, John Reed Stark Consulting LLC.