At our TC Classes: Crypto occasion final week in Miami, I sat down with Bitwise Asset Administration Normal Counsel and Chief Compliance Officer Katherine Dowling, Perkins Coie Associate Sarah Shtylman and Paradigm Coverage Director Justin Slaughter to speak concerning the crypto regulation panorama, with a particular give attention to the U.S. What we didn’t know heading into the panel was simply how a lot would change concerning the business owing to the fallout from FTX’s collapse the week prior.
Slaughter particularly felt the impacts of the FTX fiasco firsthand: Paradigm wrote down a $278 million funding within the change following its declaration of chapter. We talked about that up entrance, however principally as a jumping-off level to debate the knock-on results for the state of regulation, which was itself already a contentious mess, notably relating to U.S. lawmakers and the assorted federal regulators concerned out there, together with the SEC and the CFTC.
The important thing takeaways that each one three panelists primarily agreed upon is that the advantage of the FTX scenario is that there’s now extra impetus than ever to reach at some sort of regulatory framework particular to crypto within the U.S., and that there’s now ample demand from the business facet, in addition to a possibility to additional educate regulators since they’re in search of illumination popping out of the FTX collapse. On the motivation facet, there’s hurt discount, since regulators and lawmakers don’t need extra FTX situations to proceed to unfold, in addition to FOMO on the enterprise being accomplished overseas in markets the place they’ve raced forward to encourage crypto adoption.
Take a look at the complete panel above for far more.
