Posts published on June 13, 2023 go to media archive 3/4

House Bill Shows Challenge of Regulating Crypto Without Giving TradFi a Free Pass

House Republicans Patrick McHenry and GT Thompson face a central problem drafting their crypto bill: Removing SEC discretion over whether a crypto token is a security allows issuers of traditional stocks and bonds the opportunity to arbitrage…

U.S. SEC Out-of-Bounds in Dragging DeFi Into Proposed Exchange Rule, Industry Says

The U.S. Securities and Exchange Commission (SEC) wants to stretch how it identifies exchanges it needs to regulate, and the agency’s inbox is jammed with crypto industry letters accusing it of reaching well beyond its legal powers and potentially…

Majority of Americans Hesitant to Embrace Central Bank Digital Currency, Survey Finds

A recent poll conducted by the Cato Institute and public opinion firm Yougov reveals that the majority of Americans are hesitant to adopt a central bank digital currency (CBDC). The findings indicate that support for a CBDC remains relatively low…

Classifying Crypto Tokens as Securities Will Hamper Some Blockchains’ Decentralization Efforts, Bernstein Says

The core issue is whether countries should use securities law framed decades ago to categorize crypto tokens, without realizing the efforts of blockchain networks’ to transform existing financial systems, the report said.