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As SEC Chair Gary Gensler’s tenure comes to an end, there is anticipation for a potentially more crypto-friendly approach from the regulatory body. However, the repercussions of past actions, such as lawsuits, cannot be erased overnight. The path forward is uncertain as a new SEC regime prepares to take charge.
According to Matthew Frankle from Haynes Boone, there is a chance that some of the existing cases may be dropped as the SEC reevaluates its stance on cryptocurrencies. Frankle suggests that unless there is underlying fraud involved, certain cases could be dismissed as the regulator rethinks its strategy.
Despite the prospect of a friendlier attitude towards crypto, Frankle emphasizes that it does not necessarily translate to reduced regulation. He believes that any new regulations will focus on providing clarity to the industry rather than stifling innovation.
While the idea of a crypto-friendly SEC is promising, Frankle warns against expecting immediate changes. The confirmation of the new SEC head and the subsequent implementation of new policies will likely take time. Patience may be key for the crypto community in the coming months.
Key Points:
- The departure of SEC Chair Gary Gensler signals a potential shift towards a more crypto-friendly regulatory environment.
- Existing lawsuits by the SEC may be reevaluated and some cases could be dropped, depending on the presence of underlying fraud.
- A crypto-friendly SEC does not mean less regulation, but rather a focus on providing clarity and guidance to industry players.
- Changes in SEC policies and regulations may take time to materialize, requiring patience from the crypto community.