The Cryptocurrency Task Force within the SEC held a second scheduled roundtable with industry representatives titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”
Acting Chair Mark Uyeda, Task Force Chief of Staff Richard Gabbert, and Commissioners Hester Peirce and Caroline Crenshaw participated in the meeting. The crypto industry was represented by, among others, Kathryn Minarik from Uniswap Labs, Gregory Tusar from Coinbase, and Austin Reid from FalxonX.
During the meeting, Uyeda suggested that the SEC needs to find a temporary solution regarding the regulation of digital assets while the agency develops a long-term approach.
“A time-limited conditional exemption system for registered and unregistered entities could foster more active innovation in blockchain technology in the U.S. in the near term,” noted Uyeda.
Participants also discussed which specific elements of the crypto industry fall under the Commission’s jurisdiction. Minarik pointed out that P2P transactions eliminate intermediary-related risks and therefore should not be regulated by the SEC.
Earlier, the Commission requested a court delay in the cases against Binance and Ripple.