The new Administration has a clear mandate to provide a securities regulatory pathway for crypto, but it had been unclear whether the SEC would take the initiative in building a framework for crypto regulation, or whether legislation making its way through Congress would steal the momentum. What is taking shape is a blend of the two, where the SEC would regulate “digital investment assets,” and the CFTC would regulate “digital commodities,” and the two agencies would share regulation of market intermediaries that engage in trading of digital assets.
Read the full post on Proskauer’s Regulatory & Compliance blog.