The Varying Federal, State And Local Attitudes On Crypto
By Patrick Daugherty and Louis Lehot (May 25, 2022, 5:12 PM EDT) — The U.S. Securities and Exchange Commission is adding 20 positions to its Crypto Assets and Cyber Unit. These positions are all enforcement-related.
None of the new staff will be charged with carrying out the SEC’s statutory duties to propose rules and interpret the law for industry participants.
The SEC proposed two new regulations recently, each of which would augment its powers while potentially stifling the burgeoning digital asset industry. While the SEC is pumping the brakes on growth and development of that industry, other government actors, including the Biden administration, Congress and the Newsom administration in California are taking a more…
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