The SEC has sued Binance and Coinbase for operating unregistered securities exchanges and offering unregistered securities, including their staking programs. Coinbase also faces 10 companion state cases relating only to its staking program for retail users.
On Friday, June 2, 2023, Representatives McHenry and Thompson released a digital asset market structure draft proposal. The House Financial Services Committee leadership published both text of the discussion draft and a section-by-section summary. This joint effort between the majority members of the House Financial Services and Agriculture Committees is a significant attempt at comprehensive US regulation for digital assets.
One of the key stories in crypto over the last two years has been the rise of Layer 2s. In a short span of time, they have attracted billions in TVL, and transaction volume on Arbitrum alone now rivals that on mainnet Ethereum.
I’m thrilled to have joined Electric Capital as General Counsel and Chief Compliance Officer. Web3 regulatory policy is complex, in flux, and early decisions can have a huge impact on a company’s or protocol’s outcome. I will work primarily with founders to help them understand the regulations needed to make well-considered product decisions. In my role I will also work directly with policymakers and regulators as they shape the future of Web3 policy.