The US Securities and Stock Exchange Commission (SEC) hosted a meeting in which some lawyers shared their views on the authority of the regulator in their practices for crypto markets. At the meeting, the names that express opinions; Jason Gottleib from Morrison Cohen was JW Verrett from the University of George Mason University from the University of New York.
Control of crypto activities
Expressing the opinion, the lawyers, SEC’s former president Gary Gensler during the critical approach to the decisions, most of the crypto transactions should be excluded from the regulatory scope, he argued. Warnings were made that the regulation had negative effects on crypto developers and transaction platforms.
JW Verrett said: “In the last four years, the SEC has distorted the law and targeted crypto developers and platforms. This situation should change and allow flexibility and cooperation in the regulatory environment in the future. ”
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Suggestions on Howy Test
Participants said that the application of the SEC’s 80 -year -old Howy Test to the crypto area should be reviewed. The test, investment, joint venture, profit expectation and the elements of the labor of others, especially in areas such as Stinging, Airdrop and NFT may be insufficient.
Blockchain Association: “New comments can negatively affect the crypto sector by narrowing existing definitions and applications.”
The Crypto Task Force team, which aims to develop comprehensive arrangements for crypto tokens, has also taken a step in the light of the views shared with the public. While the regulator continued his activities under the leadership of Hester Peirce, the suggestions from the sector representatives were requested to write.
In addition, SEC’s Coinbase case stopped, the NFT platform OpenSEA investigation terminated, Binance 60 -day break and the Uniswap investigation of steps were taken to close the steps said. These developments are considered as an indicator of the change in the regulatory approach.
The predictions that the SEC presidential candidate is not yet approved and that the clarification of future regulations may take months is closely monitored by market actors.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
