Jason Gottlieb Discusses SEC’s Lack of Clarity for U.S. Crypto Companies and Modeling International Frameworks
Partner Jason Gottlieb was quoted in a May 25, 2023 Cointelegraph article entitled, “In the US, Targeted Crypto Legislation ‘Could Start the Ball Rolling.’” The article discussed the SEC’s reluctance to provide digital assets companies with regulatory clarity, and said that absent new Congressional legislation to provide a comprehensive cryptocurrency framework, U.S. digital assets companies might look overseas for a useful crypto regulatory framework.
Jason stated that “the SEC’s approach is indeed discouraging investments in innovative technology companies. As a result, responsible, law-abiding companies are simply looking elsewhere.”
Jason pointed out that several nations and jurisdictions overseas are already providing clarity. He stated, “The European Union, Switzerland, Singapore, the United Kingdom, Japan and the Caymans have all provided guidance for how to operate as a digital assets company. The United States, and in particular the SEC, has not. The SEC says ‘just follow the rules,’ but points to rules that literally cannot be followed because they were not written for digital assets.”
Jason warned, “The longer we allow the industry to incubate in other countries, the harder it will be to woo back when we finally realize what we’re missing.”
Read the Cointelegraph article here.
Contacts
- Jason P. Gottlieb Partner & Chair, Digital Assets; Chair, White Collar and Regulatory Enforcement
- jgottlieb@morrisoncohen.com
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