Here are a few notable excerpts from her speech:
On crypto as a lawless ‘Wild West’, she says:
“The persistence of both self-regulation and calls by the crypto community for clarity from government regulators suggest that lawlessness is not the prevailing culture of the crypto frontier.”
On crypto companies complying with securities laws, she says:
“We have done little during my nearly four years on the Commission to explain what [crypto compliance] would look like… deeming digital assets to be securities means that platforms that trade them… have to register with us, but they cannot operate as a registered entity under our existing rules so they [are not] able to register.”
On crypto regulation going forward, she says:
“If we intend to demand registration of entities in the crypto space, we have to give our staff the permission to do the hard work of figuring out how the rules will apply given the unique aspects of the business and to seek broad public input through a transparent regulatory… process.”
