- In addition to the president of the Sec, Paul S. Atkins, various other executives to reach the dry round table.
- A temporary regulatory framework is offered to balance innovation and compliance in cryptographic space.
In a continuous push of regulatory clarity in the space of digital assets, the American commission for securities and exchange should accommodate the second session of its round table of cryptographic policy on April 25.
Mergé by the working group dedicated to the cryptography of the dry, the event is part of a broader initiative in four parts aimed at solving critical problems such as custody of cryptography and existing regulatory gaps.
The session will showcase the opening remarks of the new president of the Sec, Paul S. Atkins, who recently took office with a commitment to prioritize the surveillance of cryptography.
In addition, the chief of staff Richard Gabbert and the commissioners Caroline Crenshaw, Mark Uyeda and Hester Peirce would also join the discussion.
Round table details
Entitled “Knowing your goalkeeper: key considerations for the custody of cryptography”, the next round table to come from the SEC will highlight one of the most worrying problems of the regulation of digital assets, and this is how cryptocurrencies should be kept safely.
The event will include two targeted discussions: one examining custody through brokers and another exploration of childcare obligations for investment advisers and businesses.
Under the existing SEC rules, advisers are required to store customer assets with a “qualified guardian”, generally a bank or a broker – a standard that has aroused considerable debate.
Legal experts like Neel Maitra have reported custody of cryptography as perhaps the most urgent regulatory challenge in industry, citing investor demands for both accessibility and protection.
Echoing these concerns, Justin Browder of Simpson Thacher criticized the current position of the dry, arguing that it places the advisers in a difficult position – balance regulatory compliance with the real needs of customers, in particular given the limited number of qualified guards equipped to manage digital assets.
Other sessions and why were they important
Drawing on the momentum of its round table on cryptographic trading, the SEC continues its wider thrust to modernize the surveillance of digital assets thanks to its series of policies in several parts.
This session, nicknamed “Between a block and a difficult place: sewing regulations for cryptographic trading”, brought together key industry players such as Coinbase, Uniswap Labs and NYSE to explore the contours of a more adaptive regulatory model.
During this session, the president of the acting dry, Mark Uyeda, had floated the idea of a temporary framework to fill the existing gaps while long -term rules are developed.
Therefore, Uyeda said it better when he said,
“While the Commission strives to develop a long-term solution to solve these problems, an exemption framework exempt conditional limited in time for registrants and non-inscriptions could allow greater innovation with blockchain technology in the United States in the short term.”
Now, with additional sessions on tokenization and decentralized finance scheduled for May 12 and June 6, the SEC seems to promote an enlightened discussion as it seeks to redefine the crypto-government in the United States
