- The SEC is hosting a series of regulatory roundtables.
- It will see industry sceptics and supporters try to iron out how crypto should be regulated.
On Friday, crypto critics and backers will face off over the future of how the industry will be regulated in the US.
The Securities and Exchange Commission will host a series of roundtables to flesh out the key areas of interest for its new Crypto Task Force, the first of which will be held on March 21.
“I am looking forward to drawing on the expertise of the public in developing a workable regulatory framework for crypto,” said Commissioner Hester Peirce, who is leading the Crypto Task Force.
The initiative is part of President Donald Trump’s stated mission to relax crypto regulations in the US to boost innovation in the industry.
It marks a breakaway from the agency’s focus under former Chair Gary Gensler, whose stewardship saw the SEC fire off a barrage of enforcement actions against crypto companies.
Most of those actions have now been dropped or halted as the industry awaits the next chair of the SEC to be appointed.
Here are the 11 industry bigwigs that will take part in the discussions and why they matter.
John Reed Stark, John Reed Stark Consulting
John Reed Stark served the SEC’s Enforcement Division for more than 18 years, including 11 as its chief of internet enforcement.
Over the years, Stark has become a vocal crypto critic. Hours ahead of the first Crypto Task Force roundtable, Stark published a 78-page takedown of crypto.
The key takeaway? He’s not confident that the new SEC will protect consumers.
“The SEC Crypto Task Force, which, instead of prosecuting Big Crypto, was created to forge an alliance with Big Crypto — inviting crypto financiers to create the terms of their own regulation,” Stark wrote.
Miles Jennings, a16z crypto
Miles Jennings is the head of policy at investment giant Andreessen Horowitz’s crypto arm.
He advises the firm on decentralisation, DAOs, governance, non-fungible tokens, and state and federal securities laws.
In 2017, he joined blockchain company Consensys as a legal adviser. He also co-chaired Latham & Watkins’ global blockchain and cryptocurrency task force during his time as partner at the law firm.
On March 13, Jennings said that a 50-page screed from a16z addresses “the most significant and complex crypto issues with a simple, powerful principle that fits in a single sentence.”
A16z is becoming one of the crypto industry’s more vocal supporters in Silicon Valley.
Its reps have spearheaded the debate about alleged debanking of crypto firms, and Brian Quintenz, Trump’s pick to be the next chair at the Commodity Futures Trading Commission, is the global head of policy at a16z’s crypto investment arm.
Benjamin Schiffrin, Better Markets
Benjamin Schiffrin is the director of securities policy for Better Markets, a non-profit financial reform advocacy firm.
His focus is on securities across the policymaking process, with a specialisation on the SEC.
Before joining Better Markets, Schiffrin worked as an associate general counsel at the regulator for 18 years.
Lee Reiners, Duke Financial Economic Center
Lee Reiners is a lecturing fellow at the Duke University’s Financial Economics Center.
During his tenure at Duke, he has taught classes on FinTech Law and Policy, Cryptocurrency Law and Policy, Financial Regulatory Policy, Climate Change and Financial Markets, and Cybersecurity Law and Policy.
According to Duke, his agenda focuses on how new financial technologies and climate change fit within existing regulatory frameworks.
Rodrigo Seira, Cooley
Rodrigo Seira is special counsel at law firm Cooley.
He advises private and publicly traded companies, focusing on blockchain, and cryptocurrencies.
Before joining Cooley, Seira practiced law at one of the US’s first blockchain-focused boutique law firms, and served as special counsel and co-head of the policy lab at Paradigm, a crypto-focused investment fund.
Collins Belton, Brookwood P.C.
Collins Belton is a managing partner for Brookwood P.C., which advises early companies, VCs and fintechs with a crypto focus.
Belton recently supported Peirce’s invitation to industry stakeholders for opinions on shaping digital asset regulations.
Belton previously worked for Wilson Sonsini and Atrium.
Sarah Brennan, Delphi Ventures
Sarah Brennan is the general counsel for Delphi Ventures, where she leads policy initiatives for the investing firm.
She co-founded LeXpuNK, a social startup for blockchain lawyers, and writes regularly on the intersection of digital assets and the law.
Delphi Ventures has funded crypto projects like web3 gaming startup Pixelverse.
Chris Brummer, Georgetown Law
Chris Brummer is Agnes Williams sesquicentennial professor of financial technology at Georgetown Law and CEO of Bluprynt, a crypto compliance startup.
He’s previously taught at Vanderbilt and the University of Pennsylvania Law School and served on the board of PayPal’s digital asset unit.
Coy Garrison, Steptoe
Coy Garrison represents crypto stakeholders through the firm Steptoe, where he’s co-lead of the firm’s blockchain practice.
He previously worked for the SEC for nearly nine years, most recently as counsel to commissioner Peirce.
He last appeared before Congress in February, testifying on digital asset regulation.
Lewis Cohen, CahillNXT
Lewis Cohen co-chairs CahillNXT, the digital asset arm of Cahill Gordon & Reindel.
He was previously a partner for Clifford Chance and Hogan Lovells. Cohen most recently testified before Congress in February before the Senate Committee on Banking, Housing and Urban Affairs for a panel titled “Exploring Bipartisan Legislative Frameworks for Digital Assets.”
During the hearing, he argued for a “technology-neutral” and “dual regulatory” approach to crypto policy.
Teresa Goody Guillen, BakerHostetler
Teresa Goody Guillen is a lawyer for the long-established firm BakerHostetler and former law professor at Georgetown.
She recently co-authored the policy paper “Paving the Path for Crypto Clarity: A Framework for Digital Asset Regulatory Structure Discussion Draft,” which in part argues for a balanced approach to crypto regulations.
Pedro Solmano and Andrew Flanagan are Markets Correspondents at DL News. Got a tip? Email them at psolimano@dlnews.com and aflanagan@dlnews.com.
