“The Securities and Exchange Commission’s First Gathering on Crypto Issuesues Kicked Off With Assurances from Commissioners thata Aiming to set Effective Policy.”, – WRITE: www.coindesk.com
The Securities Regulator is Ready “To Seek Earnestly to Find a Workable Framework,” PEIRCE SAID at the Agency’s First Crypto-Focused Roundtable on Friday. “I Think We’re Ready for the Spring Ahead,” She Said, Referring to the Title of the Day’s Event, the “Spring Sprint Toward Crypto Clarity.”
The Task, According to PEIRCE:
SEC Commissioner Hester PEIRCE SPOKE AHEAD OF The PANEL Discussion at the Crypto Task Force’s Roundtable. (Nikhilesh de/coindesk)
Mark Uyeda, The Agency’s Acting Chairman, Told Reporters That Despite Recent Sec Policy Statements That Certain Areas A “Definitely Possibility” that Others Will Be Defined As Securities.
“We’re Moving on Multiple Tracks Here,” He Said in Answer to A Question from Coindesk. Each Statement Issued So Far “Ultimately Is a Staff Statement” that dosn’t have legan legal backing, But he said the Roundtable Represents of the Entire Commission – Curretly Threely Three Members – LOOKING – LOOKING – LOOK Interpretation Might Look Like. ”
In his Opening Remarks at the Event, Uyeda, Who Was Appointed by President Donald Trump As the Sec Awaits a Senate Confirmation Such Interpretations Public.
“WHEN JUDICIAL OPINIONS HAVE CREATED UNCERTAINTY OUR PARTICIPANTS IN THE PAST, The Commission and Its Staff Have Steped in to Provide Guidance,” Uyeda Said. “This Approach of Using Common Rulemaking for Explaning the Commission’s Process or Releases Racher Whather Who Enforcement Action, Should Have Been Consided For Classification Crypto.
Panel Discussion
The Panel Discussion Saw A Dozen Securities Attorneys in the Crypto Sector Weigh in On The Special Issues they Saw as they have advocated companies.
“What’s The Biggest Question That You Face In Trying To Wrestle With This Question?,” Modertor Troy Parees, A Former Sec Commissioner Who Now Runs Consulting Firm Paredes Strategies, As. AT DELPHI Ventures and One of the 11 panelists.
Panelists Speak at the Sec Crypto Task Force’s First Roundtable Discussion (Nikhilesh De/Coindesk)
“The Special of the Application of Securities of Laws have moved early-Stage Projects in the Market to Sort of Take An Arc Very Similar to [initial public offerings]WHERE they STAY PRIVATE Longer, “she replied.
“TheSE assets in the traditional model are designed to have wide, Broad Early Distribution and MOST OF THE MARKET IS HEDING THAT WHERE PEOPLE WILL MARSHAL Their Way to An Exchange Listing that Broad Dissemation or Price Support or Actual Fully Launching the Technology. ”
The panel Featured Critics of the Industry Alongside Attorneys Who Have Worked to Develop the Sector.
“WHETHER YOU’RE TALKING YIELD Farms or Ostrich Farms or Orange Groves, The Whole Point of Securities Regities Regulation Was to Wrap that All Up Into a Ver Big, Broad, PrinCiples Attorney John Reed Stark Said. His concern is that, Even in 2025, Much of the Market Lacks Utility.
“If it all went away tomorrow and you were spuculating in it, you wouldn’t care,” He Said.
Legislator Questions
Ahead of the Roundtable, Sen. Elizabeth Warren and Rep. Jake AuchinCloss, Both Massachusetts Democrats, Wrote An Open Letter to Uyeda Asking About the Sec’s Staff Statement on Memoeins and How It Was Developed.
The Letter Asked Whter Anyone at the Sec Communicated with The White House About the Statement, Whther The White House’s INTO FORMAL RULEMAKING.
Warren and AuchinCloss Also Asked the Sec To Explain How It Wulder -Special Define Memecoins As Distinct from General Cryptocurrency Memocoins that don’t meet the Staff Statement, and WHICH MEMECOins the Sec Analyzed in Drafting Its Staff Statement.
NFTS NEXT?
PEIRCE TOLD REPORers on the Event’s Sidelines that A Next Possibility for Another Agency Crypto Policy Statement (Following Recents For MemoEins and Mining) Coulder She SAID NFTS COULD PROBABLY BENEFIT FROM CLARITY ON THE AGENCY’S THINKING.
“I THINK WE’ll See that We Could do on nfts, as Well,” She Told Reporters on the Sidelines of the Agency’s Crypto Roundtable on Friday. “We Could Have Done That A Long Time Ago.”
WHEN ASKED BY COINDESK WHETHER NON-Binding, Unioficial Staff Statements Are The Way to Approach Policy Signals from The Agency, She Said this Is A Response to Recent Years About any of it.
“There is Certainly a role for notice-and-comment Rulemaking. But I THINK NOT WHEN YOU’RE YOU’T JUSHING SAYING, ‘THIS IS How We’re Looking at The Law,'” She Said. “You don’t need that.”
She Also Addressed Reports that Federal Budget Slashing Will Lead to a Cut of Sec Staff of Hundreds of People.
“IT’s Always Sad to ME WHEN YOU lose Someone with A Lot of Experience, But People Do Come and GO from the Sec,” She Said. “They do retire, and so we have to have a Deep Bench.”
Update (March 21, 2025, 20:12 UTC): Adds Comments from Hester Peirce.
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