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Op-ed: Why the SEC should never touch crypto again [Part 2]

Press Releases Crypto News CryptoSlate Op-ed: Why the SEC should never touch crypto again [Part 2]

In the first part of this series, I discussed the U.S. Securities and Exhange Commission’s recent charges against Coinbase and Binance, their inability to properly regulate the crypto industry, the history of digital assets in the congressional record, and the significant decline in the mentions of digital assets by the U.S. Government.

For this part, we will delve deeper into the implications of the SEC’s actions and explore alternative approaches to crypto regulation that could benefit the industry and its investors.

Digital Assets Commission

There are glaring flaws in the current regulatory landscape and a need for a dedicated digital asset-specific regulatory body—one that acknowledges the unique nature of digital assets, fosters innovation, and protects investors in the dynamic world of crypto.

It is increasingly apparent that a dedicated commission, perhaps a ‘Digital Assets Commission(DAC),’ is required to oversee this rapidly evolving industry and to formulate nuanced regulatory guidelines that foster innovation while protecting investors.

The creation of a dedicated Digital Assets Commission would bring together experts in the field and regulators to develop a more targeted and adaptable framework for digital asset regulation.

By combining deep knowledge of the technology and a comprehensive understanding of the potential risks, this commission could bridge the gap between innovation and regulation, ensuring that the unique attributes of digital assets are properly accounted for.

This change would enable a more effective and responsive regulatory environment, allowing the crypto industry to thrive while still safeguarding the interests of investors and the broader financial system.