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Circle CEO Says More Regulatory Clarity from U.S. SEC Will Help Unlock Crypto Markets
2019-01-11 10:57

CEO and Co-Founder of Goldman Sachs-backed crypto finance company Circle has said the biggest regulatory hurdle facing crypto today is the lack of clarity from the United States securities regulator over how to define various crypto assets. In response to a question over Circle’s efforts to educate regulators like the Securities and Exchange Commission (SEC) about the crypto industry, as well as specific challenges the company faces, Allaire wrote: “The biggest and most immediate regulatory hurdle we face is the lack of specific guidance from the SEC on how to classify various crypto assets. We believe many are clearly currencies and commodities, and there needs to be more specificity on what are really securities. This can unlock a lot of market activity, and also clearly enable the growth of a market for crypto-based securities.” (Cointelegraph)

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