In a recent round table hosted by the Crypto Working Group of Securities and Exchange Commission (SEC), the chiefs of the industry met to discuss the custody of brokers and investment advisers.
Ryan Louvar, Legal Director and Responsible for Legal Affairs and Affairs for Digital Assets in Wisdomtree, shared his ideas after the event, highlighting the renewed commitment of the SEC to engage with the cryptocurrency industry.
Crypto sect sectt
Louvar described the round table as “extremely productive”, noting that the dry, under a new leadership, is seriously re -engaged with the industry stakeholders. He stressed the importance of practical discussions on how digital assets, blockchain technology and tokenization are part of the current regulatory framework.
The event facilitated a rich dialogue, according to a report By Eleanor Terret, presenting the hard work of the working group on the dry crypto to promote an environment conducive to open exchange.
The diversity of perspectives among the panelists would have contributed to a constructive atmosphere, where the potential of digital assets has been recognized in parallel with a commitment to maintain solid investor protections.
One of the most surprising aspects of the round table was the will of the participants to reconsider the traditional regulatory assumptionsin particular with regard to the guard.
Several panelists have noted that existing childcare frames for traditional financial instruments may not suit the digital assets maintained on blockchain networks.
Open dialogue on regulatory challenges
Louvar pointed out that the recognition of the dry of the blockchain potential to improve efficiency, transparency and risk management is crucial for the development of regulations which not only protect investors but also encourage the growth of digital financial products.
Louvar has expressed hope that the dry crypto working group has recognized the feasibility of a safe and compliant innovation in the field of digital assets. He stressed that adaptation of childcare structures is not to compromise protections, but rather to apply established principles – such as security, segregation, disclosure and fiduciary responsibility – to a new technological context.
He believes that thoughtful regulations can promote the development of managers Decentralized finance (DEFI) while confirming high standards that have historically defined the US markets.
In the future, Louvar sees an important opportunity for the dry to rely on the momentum from the round table. It pleads for a progressive approach to regulations, starting with targeted advice and by evolving towards a complete regulations which addresses the specific characteristics of digital assets and blockchain technology.
The key development areas include clarification of the way in which digital assets are part of the existing childcare rules and the creation of structured paths for responsible guest.
Louvar also mentioned that the New York Trust Company of Wisdomtree operated under strict regulations established by the New York Department of Financial Services (NYDFS), describing as “bank” within the framework of the current care of placement advisers.
Dall-e star image, tradingView.com graphic
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