SEC holds the first crypto round table to reassemble the regulatory framework

The US Securities and Exchange Commissions (Sec) held their first CRIPTO work Force Corfer, 21. Marta to discuss the regulation, which ended in consensus that the CRIPTO needs regulatory clarity in the United States despite deviating views on the panelists.

The panelists moved from the crypto advocate skepticas and session focused on many years of discussions, including the classification of digital assets and the limits of existing securities laws in resolving decentralized technologies.

Proponents defended decentralization as a meter for determining whether token is security. At the same time, skeptics claimed that the current definition by Hove was testing, because SEC won several movements than lost.

The event marked the change in the tone from a second in the former chair Gary Genslerwho often characterized the most common crippto tokens as securities and conducted law enforcement against major companies.

Legal definitions and volume of laws on securities

Discussions expanded to which digital property characteristics, if there are, justify different treatment according to the law. The CRIPTO ADVANCE ADVISION, suggested that it is still the setting of whether something security is, it is more relevant to the issue can be whether certain securities deserve released free.

The proponents claimed that one possible differentiator is the degree of control issued by issuers, a concept that better records the decentralized nature of many Blokschain networks.

Lee Riners, lecture center at the Duke’s Financial Economics Center, said all panelists agree with that bitcoin (Btc) It is not security because it is sufficiently decentralized.

However, he added that the drawing of the line is to define if something is sufficiently decentralized or the investment agreement is impossible, stating the Commission for Trading Commodity Fury (CFTC) shared by decentralization of the spectrum based on various aspects.

Investor risk and legal authority

The skeptics of the crypto industry presented contrasting perspectives. The former law enforcement officer John Reed Stark and the highest messenger claimed that the responsibility of the Agency is to protect investors who buy digital property.

In addition, crypto critics claimed that the Hovei test remains sufficient legal standards and that SEC’s record of civil relief confirms its interpreted authority. Stark suggested that there is no need to design the framework.

Despite these departments, participants generally agreed to use more clear definitions and regulatory consistences in the SEC industry and supervisory responsibilities.

The round table presents the first in a series of effort to modernize the attitude of the Agency on the crypto in markets during balancing investor protection with technological innovations. This signals the beginning of the regulator review process.

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