There are some significant crypto rules being worked on by the SEC. The industry would certainly welcome more transparency.

The following rule proposals would have significant ramifications: (1) a crypto market structure amendment rule, dealing with crypto trading on ATSs and national securities exchanges, (2) a general crypto assets rule, dealing with potential safe harbors and general approaches to crypto, and (3) a Rule 144 amendment, which, while not explicitly related to crypto,…

The SIFMA directors identify key consumer protections, which are crucial to the functioning of any sound market.

More interesting, perhaps, is their consideration of the legal classification of tokenized securities.  The directors highlighted Commissioner Peirce's recent  on the question: "it must be clear to investors that they are purchasing a tokenized security with legal and beneficial ownership of an operating or investment company and not, as is the case in…

Crypto advocates have long sought to protect DeFi and self-custodial activities—it's a matter of privacy, they argue.

In the wake of the verdict, the crypto industry seems more convinced than ever that this issue is existential, explaining that DeFi developers and protocols are inherently different from the traditional financial system, and should be treated as such under the law.

Given that the GENIUS Act did not enact any protections for DeFi, the industry's eyes are on…

The GENIUS Act is now law. Providing consumer access to rewards programs would drive competition, perhaps benefitting consumers even more in the end if traditional banks are forced to adapt to such a competitive regime of consumer rewards.

The concept of a balkanized regime is a serious concern. Ironically, this balkanization concern is what motivated countless uniform state acts and federal law. Undoing this provision would be damaging to the goal of the GENIUS Act itself.