- Bill Morgan says SEC’s classification of crypto still as securities hinges on offering and sale context.
- Industry leaders clash over the need for clearer SEC guidelines to navigate the crypto regulatory landscape.
- Morgan also said that registration of tokens will be a good regulatory solution.
Ladan Stewart, a former SEC crypto litigation leader argued that the SEC’s determination of whether a cryptocurrency is a security is contingent upon the context of its offering and sale. Stewart added that while certain crypto assets may show some characteristics similar to traditional securities their classification ultimately depends on the specifics of their distribution.
However, Stewart’s view was met with opposition from Rebecca Rettig, chief legal and policy officer at OxPolygon Labs, and Lewis Cohen, co-founder at DLx Law LLP. Rettig said that there is ambiguity created by the SEC’s approach and the necessity for more transparent regulatory frameworks.
Cohen supported these sentiments, calling for greater clarity to foster innovation and growth within the industry.
The debate extended as the famous legal figure and crypto enthusiast Bill Morgan took to s…
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