- The SEC’s Crypto Task Force kicks off a roundtable to define digital assets, aiming for clarity in U.S. crypto regulations.
- Coinbase pushes for clearer rules, urging the SEC to classify assets properly and exclude secondary market sales from securities laws.
- Commissioner Peirce stresses collaboration, calling for practical regulatory solutions that support crypto innovation and investment.
According to Simply Bitcoin, the U.S. Securities and Exchange Commission (SEC)Today, March 21 starts its “Spring Sprint Toward Crypto Clarity” roundtable series. The event, held at the SEC’s Washington, D.C. headquarters, runs from 1 p.m. to 5 p.m. ET. While the public can attend, in-person space is limited. However, the discussion will stream live on the SEC’s website, with a recording available later. This initiative seeks to define how crypto assets should be classified under U.S. law.
Regulatory Efforts and Industry Collaboration
To establish more precise rules for digital assets, the SEC’s Crypto Task Force was established in January under the direction of Commissioner Hester Peirce. As a result, this roundtable is the first of many talks aimed at incorporating investors, industry leaders, and the general public in the creation of an open regulatory environment.
Peirce emphasized the task force’s commitment to identifying viable solutions for crypto regulation. She acknowledged the importance of collaboration among experts and stakeholders. Besides, she stressed the need for practical approaches that consider the industry’s dynamic nature.
Meanwhile, a clear regulatory framework for digital assets has been something Coinbase has been aggressively promoting. Peirce asked for advice, and the exchange responded by urging industrial participation. Coinbase emphasized the need for market participants and regulators to work together. Important developments including White House talks on crypto policy and congressional moves to regulate stablecoins were also recognized by the corporation.
Proposals for Clearer Crypto Regulations
Coinbase’s proposal urges the SEC to create a clear taxonomy distinguishing digital commodities from securities. Hence, it argues that assets without business enterprise rights should be classified as commodities. Additionally, the company calls for regulatory confirmation that secondary market sales of digital commodities should not be considered securities transactions.
Furthermore, Coinbase advocates for a broader market structure framework, urging the SEC to defer to Congress. Besides, the company highlights the significance of regulatory relief for tokenized securities. This move would encourage blockchain innovation and foster digital investment product development.
