In the SEC’s push to rein in the crypto sector, one question looms large: Is ETH a security? Dan Berkovitz, a former CFTC commissioner and SEC general counsel, and Colin Lloyd, a partner at law firm Sullivan & Cromwell, assess the current state of the regulatory turf war in the U.S., shedding light on some of Washington’s unanswered questions.
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- how an asset can be both a commodity and a security
- what it means that bitcoin and ether were listed as non-security futures
- whether The Merge may have changed regulators’ views on the classification of ETH
- who would be responsible for determining that ETH is a security
- what Colin and Dan say about ETH being a security or not
- what would happen if any regulator, be it the CFTC or SEC, determined that ETH is a security
- how and whether DeFi applications should be regulated
- why it is important to consider the “human initiative” behind DeFi platforms
- the implications of having a technology that allows for the sale of securities without an intermediary
- the implications of the SEC’s proposal to change the definition of an exchange
- how new technologies were integrated with the regulatory system in the past and how that differs from the current approach of the SEC
- the problems of trying to regulate a technology that’s changing so fast
- how other jurisdictions have been taking a more proactive approach to regulating digital assets
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- Dan Berkovitz, former General Counsel at the SEC and former Commissioner at the CFTC.
- Previous appearance on Unchained: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss
- Colin Lloyd, partner at Sullivan & Cromwell
Previous coverage of Unchained on crypto regulation:
- ‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer
- Coinbase’s Legal Action Against the SEC: How It Will Likely Unfold
- Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’
- Is the Government Trying to Kill Off Crypto in the US?
- Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’
- Bloomberg: CFTC Chair Rostin Behnam on the Fight to Regulate Crypto
- Financial Institutions Hub: SEC Proposal Targets Crypto Exchanges, Trading Platforms, and Brokers
- Emmer and Soto Introduce Bipartisan Bill to Provide Regulatory Clarity for Digital Assets