The SEC Crypto Task Force will discuss the best approach to regulating Crypto Assets in the US on February 21 with Michael Saylor Executive Chair of the Crypto Council for Innovation and Miter Corporation. We met.
According to a memo shared by the SEC, task force staff reviewed framework documents that define cryptographic taxonomy and regulatory structures during the meeting.
This document includes Bitcoin (BTC), digital securities related to the issuer, digital currency backed by Fiat, digital tokens with defined utilities, inflexible tokens for unique digital applications, physical Classifies digital products such as digital ABT assets linked to products.
Establish the rights and liability of issuers, exchanges, and property owners by seeking fair disclosure, transparent custody practices, and compliance with local laws. The framework also proposes standardized disclosure, an industry-driven compliance process, and limiting assets issuance and maintenance costs.
Additionally, Saylor’s presentation highlights the possibility of asset issuance that can strengthen the US dollar through strategic measures such as Bitcoin Reserve, reducing national debt, wider asset issuance, broader market access, and capital market changes. I did.
I’ll be visiting staking again
Representatives from the Crypto Council for Innovation (CCI) recommended clarification of the regulatory treatment of staking services, passive blockchain data platforms, and incentive-based compensation.
The meeting included 20 representatives from multiple crypto players, including Coinbase, A16Z and Filecoin Foundation.
They proposed issuing guidance or non-action relief to ensure that authentic staking services and associated infrastructure providers are not subject to securities laws. This change allows crypto-exchange products to include filing staking activities.
Additionally, CCI recommends that blockchain exploration tools and non-obligatory Web3 marketplaces be excluded from the definition of broker, exchange, or alternative trading systems if these platforms only provide access or data display capabilities. did.
Additionally, this recommendation called for guidance to define non-security status of non-inappropriate tokens, primarily used as artwork, collectibles, virtual land, or similar non-financial applications.
Additional proposals include issuing letters without action, suspending compliance-only enforcement actions, and changing the rulemaking process taking into account decentralization and chain transactions. These measures aim to balance investors’ protection and support for industry innovation.
The Council urged the SEC to build on previous decisions and industry momentum to enhance US regulations and investor protection.
Research-driven insights into stubcoins
Miter Corporation has announced its research and development efforts focusing on the crypto market and its regulatory implications.
Operated as a federally funded research and development center for the US Treasury Department, the company develops workflow tools to support comment processing and uses policy visualization systems to identify regulatory dependencies. It develops workflow tools to develop tools and identify regulatory dependencies, and operates as a federally funded research and development center of the US Treasury Department.
Miter also detailed the digital asset threat sharing platform and Crypto’s cyberthreat framework.
The findings discussed at the conference reveal hidden centralization within decentralized finance, highlighting the need for bank stress testing in scenarios that combine distributed finance (DEFI) with traditional finance, and the risks are evident. We proposed implementing circuit breakers at the smart contract level to reduce propagation.
Miter’s technical work is designed to support SEC rule creation by providing data-driven insights and innovative tools to develop regulatory frameworks that can address evolving challenges in the digital asset ecosystem. It’s there.
The meeting concludes with a comprehensive review of proposals and research aimed at establishing a regulatory framework that supports innovation while ensuring market integrity.
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