Federalist Society Panel Review
Crypto, DeFi, and NFTs are now becoming mainstream financial services, thanks to the rise of digital assets within the global financial system. In an event by the Federalist Society, SEC Commissioner Hester M. Peirce and an expert panel including Jerry Brito, Ryan Selkis, C. Todd Phillips, moderated by J.W. Verret, addressed current and future efforts at regulation of cryptocurrency and its implications for innovation, financial stability, and consumer protection.
Topics discussed included centralization as the main threat to crypto and how to tackle operational security. J.W. spoke about how to balance investor protection, investor freedom and investor innovation within a decentralized environment. Commissioner Pierce poses the question of which body should be the appropriate regulator for crypto, the role of SEC in the current crypto sphere and about the recent bill proposal in the US Congress. Ryan Selkis questioned the current SEC mandate, how it cripples the full potential of cryptocurrencies and how it overregulation freezes assets in the current market. Todd Phillips talked about the importance of disclosure of the security laws in the financial market and in the crypto market. Jerry Brito made a balance about which areas are appropriate for SEC regulation and which ones are not.
A very interesting panel. Worth watching it.