Following the inaugural session of the roundtable series on crypto regulation organised the Crypto Task Force under the US Securities and Exchange Commission’s (SEC), task force chair and SEC commissioner Hester Peirce has further hinted at a direction, reports Ledger Insights – it might be necessary for SEC to consider crypto transactions separately from assets.
Ledger insights quotes Peirce from her speech at the DC Blockchain Summit, during which she referred to the recent roundtable session: “Many crypto assets themselves are not securities, but primary offerings of crypto assets for capital raising purposes are securities transactions.”
She acknowledged that there are multiple regulators involved in regulating digital assets, and that it would be necessary to “make those lines clearer, including appointing certain agencies as regulators for specific types of digital assets”. The issue is that the jurisdiction split will be made more complicated by the differentiation between a transaction and the crypto asset itself. A key proposal is for legislators to “enshrine the right to peer-to-peer trading without a centralised platform”.
