What happened?
The U.S. Securities and Exchange Commission (SEC) is touring the U.S., conducting regulatory discussions about clear crypto regulations. The SEC’s “Crypto Task Force: On The Road” recently visited Chicago, connecting with several digital asset project founders and other participants in the blockchain industry. Earlier, the federal regulator had made stops in Dallas, Boston, and Berkeley, California.
Who does this affect?
These regulatory discussions affect representatives of crypto-related projects that have 10 or less employees and are less than two years old. These are the groups that the Crypto Task Force is seeking to connect with during its tour. Furthermore, voices historically underrepresented in policymaking efforts are also taken into account in these discussions, broadening the scope of impact.
Why does this matter?
This move by the SEC holds significance as clarity regarding crypto regulation has been elusive, resulting in confusion around legality and creating an environment perceived as hostile to innovation and conducive to fraud. The attempt to develop a comprehensive regulatory framework could potentially influence the growth direction, innovation, and overall health of the crypto market and the blockchain industry.