Peirce pointed out that while “there have been calls for clarity for some time, a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look.”
Gary Gensler at the SEC: Will he be a friend to the crypto industry?
Although he’s written passionately about digital assets in the past, he’s previously said that most cryptocurrencies sold through ICOs are securities
If appointed, his tenure at the SEC would likely be considerably different than Jay Clayton’s, whose legacy has been tainted by a considerable lack of regulatory certainty surrounding digital assets—much to the exasperation of the cryptocurrency innovators and investors, as well as some regulators like SEC Commissioner Hester “Crypto Mom” Peirce.
The SEC gets a new chairman… for now
While it comes at a critical time, the appointment of crypto-friendly Commissioner Elad Roisman to replace Chairman Jay Clayton at the Securities and Exchange Commission will likely last no more than a month or two
That means Roisman is unlikely to make any big, precedent-setting decisions, like approving a Bitcoin exchange traded fund (ETF). Clayton was a strong opponent of crypto ETFs, arguing that price manipulation and fraud remains rampant.
SEC offers security token broker-dealers a five-year enforcement holiday
The first step in providing long-awaited regulatory clarity for security token sales comes as the agency drops the hammer on Ripple for selling the XRP, which it claims is an unregistered security
Saying that it “recognizes that the market for digital asset securities is still new and rapidly evolving,” the agency noted that the enforcement holiday is specifically for digital assets— or security tokens—that qualify as securities regulated by the SEC.