US Securities and Exchange Commission (SEC) New crypto working group has announced Subjects for the next four round table In its ongoing series discussing digital asset regulation. Important issues to be covered include customized regulation, custody, tokenizationand Decentralized funding (Defi).
Acting SEC Chairman Mark T. Uyeda launched Crypto Task Force on January 21. Its goal is to “help the Commission get clear regulatory lines, provide realistic paths to registration, craftsmanship sensible revealing frameworks and distribute enforcement resources in a wise way.”
Task Force’s first series of round table, announced March 3 was named the series “Spring Sprint against Crypto Clarity”, which started on March 21 with The inaugural track “How we got here and how we come out – define security status.”
According to SEC’s registration on March 25, Date and Topics are for their following round tables:
Each round table will be open to the public at SEC’s headquarters and streams live on sec.gov. The working group also invited panelists to speak at the events.
“Crypto Task Force round table is an opportunity for us to hear a lively discussion among experts about what the legislative issues are and what the Commission can do to solve them,” said Commissioner Hester “Crypto Mom” PeirceHead of Crypto Task Force.
In addition to the titles, SEC did not work out further about what will be discussed during the events, but it said more information about each session, including the agenda and speakers, will be published when they become available.
Crypto working group
The working group was Launched In January, and together with Commissioner Peirce, it consists of staff from SEC actor Uyeda’s office and other departments throughout the Commission.
The key name of the 14-members working group includes “Chief Counsel” Mike Selig, who was previously a New York-based partner at the international law firm Willkie Farr & Gallagher, where he was a member of the company’s digital asset practice; ‘Senior Advisors’ Landon Zinda, former Policy Manager at Digital Asset Think Tank Coin Center; and “Senior Advisors” Veronica Reynolds, former lawyer at Baker Hostetler LLP focused on Non-fungible tokens (Nft) and metaver-Alied legal issues.
On the same day, the members were announced – March 3 – the working group also launched the Roundtable series, with the first session that was appointed and scheduled for March 21.
First round table
With the title “How we came here and how we come out – Defining Security Status”, the first round table discussed how to define digital assets within the US regulatory system and, most importantly, if they can classified as securities.
On the latter, most controversial subject, the working group spent a significant time discussing Howey test To classify a security – is it an investment of money in a joint company, with an expectation of profits solely from other people’s efforts?
The debate went back and forth, without any obvious consensus being reached during the session, except that the digital asset space would not be allowed to work in regulatory ambiguity.
Other issues discussed included whether the digital asset industry has done enough to follow existing regulations Or if the SEC regulation-by-enforcement method created an uncommon system that made compliance almost impossible.
In their closing remarks to the first round table, the importance of the series repeated the importance of the series and claimed that “many have long requested a regulatory framework for crypto – one that is useful – and now we have the opportunity to be part of constructing it.”
The secs Latest announcement Ended with a call to participants who want to be part of this construction process and urge parties interested in being on the panel for one of the upcoming round tables to get in touch with the working group.
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