Crypto may see second wind in the US as courts 'rein in the SEC'

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.

On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S. court cases have stomped on arguments from Securities and Exchange Commission chair Gary Gensler — who has said that almost all digital assets are securities.

McLaughlin was speaking on a panel at Intersekt23 in Melbourne alongside payment services firm Novatti chief Effie Dimitropoulos and Invest Hong Kong fintech head King Leung.

He said early crypto regulation happened at the state level and was “pretty clear what you needed to do” but after the SEC and the Commodity Futures Trading Commission got involved “a lot of the market started to close up.”

“People delisted tokens, some companies pulled out of the U.S. because they saw how aggressive the SEC was being, and continues to be,” McLaughlin said.

#news #US #crypto

Aug-31-2023 09:01:35 AM