Messari’s Post

“Redefining Crypto Oversight: Messari’s Bold Challenge to the SEC” As someone who believes in the transformative potential of web3 technologies, it’s clear that effective regulation is crucial. By advocating for a shift towards more effective, private-sector-led oversight, Ryan Selkis champions a future where innovation is not stifled by inefficient regulation. This move highlights the potential for a balanced regulatory environment that both protects investors and fosters the growth of the crypto industry. Key Points: 1. Criticism of SEC: SEC’s approach is outdated and harmful to innovation. 2. Support for Private Solutions: He believes private companies can regulate the crypto market more efficiently. 3. Action Plan: Selkis plans legal actions, lobbying, and media efforts to push for regulatory reform. Arguments in Support: • Regulatory Failures: The SEC missed major frauds but targeted legitimate companies. • Proven Capabilities: Messari’s track record in uncovering fraud demonstrates the potential for private firms to effectively regulate the industry. “Supporting Ryan Selkis in his mission to challenge the SEC’s outdated practices is essential for the future of crypto innovation. His focus on effective and fair regulation is a cause worth backing.” #Web3 #SEC #messari #cryptoregulation

THIS is how it is done. Impressive work. Unlocking human capital should be the priority of every country. It is great to see the UK tackling this across many fronts. Both in Financial Services as this article describes as well as more generally leveraging AI as highlighted in their AI Safety Summit in November of this year. Link from UK gov on Digital Securities Sandbox: https://lnkd.in/gyzYFube

📣 Hello DX25 Community! Are you ready for the weekend? We got you! The crypto landscape is evolving, and the tides are shifting favor of Decentralized Exchanges like DX25. Want to know why? We've got a brand-new article that spills the beans! 1️⃣ Decentralized Autonomy 🗺️ Tired of third parties controlling your assets? At DX25, we give you complete autonomy over your trading assets. Forget the days of unnecessary middlemen; it's time for a paradigm shift in understanding asset ownership. 2️⃣ Transparency Above All 🕵️ In a world where financial transactions often occur behind closed doors, DX25 shines a light with its full transparency. Each transaction is recorded on a public, immutable ledger, and our smart contracts are open-source. 3️⃣ User Experience Redefined 🎯 Trading crypto shouldn't be complex. With DX25, you get a user-centric design that makes trading accessible. We've got your back from fluid liquidity provision to straightforward position management. 4️⃣ Low and Transparent Fees 💸 Sick of hidden fees? DX25 operates on low, transparent fees so that what you see is what you get. No more nasty surprises when you're executing a trade. Financial freedom shouldn't come with a hidden price tag. 5️⃣ High Anonymity 🤫 Privacy is your right, and we respect it. DX25 offers a highly anonymous trading environment, so you can trade without giving away your identity. With us, you're not just a number but a valued member of a secure community. We are not just an option. We are fast becoming the first choice for those who want freedom, transparency, and control in their trading experience. 👇 Learn More https://lnkd.in/eesBTzyy

This week might be the biggest week for crypto from a regulatory, policy, and legislative standpoint ever. Like it or not, crypto is officially a political football for this election cycle, and Congress is quickly beginning to understand that it's no longer a niche industry that can be ignored or bullied. Nearly 60 million Americans own crypto; which represents an increasingly young and diverse constituency traditionally relied upon by the Democratic Party. The game is changing very rapidly, in real-time, with 2 mainstage events that deserve close attention this week: 1. Biden must decide whether to veto the U.S. Senate’s bipartisan repeal of SEC Staff Accounting Bulletin 121 (SAB 121). SAB 121 is a crypto accounting rule (issued in 2022 without a formal rule-making process) that imposes significant burdens on cryptocurrency custodians – like banks – by requiring them to record crypto assets on their own balance sheets, resulting in major capital implications. Last week the U.S. Senate voted 60-38 to repeal SAB 121 in a bipartisan rebuke of the current SEC and its political supporters, like Senator Warren. Senate Maj. Leader Schumer was among the Democratic supporters of the repeal. In response, Biden threatened to veto Congress’ resolution to overturn the SEC’s policy. The question now is whether Biden will in fact follow through on this veto threat. Last week I thought a Biden veto was a near certainty. This week the wind has completely shifted and I think it’s likely we see the White House pivot away from its veto threat in an attempt to mitigate the anti-crypto political fallout caused by Gary Gensler and Senator Warren. 2. The U.S. House votes on the Financial Innovation and Technology for the 21st Century (FIT21) Act. Tomorrow Congress will bring FIT21 to a vote on the House floor. FIT21 attempts to create a comprehensive U.S. regulatory framework and statutory regime for the SEC and CFTC to regulate digital asset markets, including crypto assets and digital asset exchanges. Under FIT21, digital assets would be assessed using a series of factors that would determine whether the asset is a “restricted digital asset” under SEC jurisdiction, or a “digital commodity” subject to CFTC jurisdiction. However, FIT21 also offers a uniquely adaptive approach that permits this classification to remain fluid to accommodate development of digital asset projects from centralized to decentralized products/networks. While FIT21 is not likely to pass the U.S. Senate in its current form, there is increasing optimism that it may have the support to pass in the House tomorrow. If so, this would be a landmark win for the crypto industry, U.S. consumers, and efforts to keep technological innovation here in America. If this type of sensible legislation resonates with you, I highly recommend reaching out to your Representative to voice your support for FIT21. The below Stand With Crypto resource can connect you with your Rep via phone/email in just minutes.

We need your assistance.  At CoinFund, we believe that the best regulatory outcomes for our portfolio and the #crypto industry will come about through regulatory engagement. We are honored to serve on the U.S. Commodity Futures Trading Commission's Global Markets Advisory Committee and its Digital Asset Markets Subcommittee.  Recently, the CFTC took enforcement action against three decentralized finance (#DeFi) projects, and we believe that we should leverage our committee access to provide feedback on thoughtful policy design as an alternative to a regulation by enforcement campaign.  We believe that an open, transparent process is the best way forward. We will be hosting a Spaces on Friday, October 27th at 1pm NY so that we can receive community feedback on various policy recommendations for DeFi. https://lnkd.in/eBZx2arH We’ve engaged some of the top crypto legal minds on reasonable DeFi policies within our designated working group. Here are some we are thinking about: 1. The CFTC should engage its five advisory committees and seek guidance and input from them and the general public on effective and principles-based DeFi regulatory design. 2. A clear taxonomy for DeFi is needed.  How should front ends be defined and regulated? How does this differ from back end protocols themselves?  Are there empirical measures that should determine decentralization versus centralized control? 3. The CFTC should put forth clear, transparent and objective guidelines that demarcate software development and protocol control. What guidelines make sense? 4. The CFTC should rethink the requirement for mandatory intermediaries and instead focus on the market structure principles that balance inclusivity, accessibility, transparency, cost efficiency and client asset protections and facilitate deep and liquid markets. 5. The CFTC should dedicate its precious resources to rooting out perpetrators who engage in fraud, manipulation and abuse--consistent with its current legislative mandate 6. To the extent the CFTC has clear legislative authority to ban certain activities, it should provide transparent, fair and reasonable geofencing guidelines. 7. Through sandboxes as proposed by Commissioner Caroline D. Pham,  the CFTC should bring together top DeFi and industry professionals, offer safe harbor and encourage innovation and experimentation--without fear of reprisal. 8. The CFTC should work with other government agencies to better protect and defend U.S. crypto entrepreneurs from hostile state sponsored attacks and hacking activity. 9.Privacy should be encouraged not shunned, and policies should focus on perpetrators of illicit acts, not banning privacy preserving technologies. We hope you can join us so that we can refine and provide the best policy recommendations to the CFTC

A new era has commenced, bringing transformative changes to the way we conduct financial transactions…. #blockchaininnovation #cryptocurrency #tradefinance

A bold move for crypto regulation. But not everyone thinks it's the right direction. 3 critical reasons why FIT21 may not be the regulation crypto needs: 1. Regulatory "No Man’s Land" Representative Maxine Waters warns that the FIT21 Act could create a regulatory "no man’s land," potentially deregulating crypto and some traditional securities too much. This shift might lead to more confusion rather than clarity, leaving the industry in a precarious position. 2. Dual Regulatory Regime Crypto lawyer Gabriel Shapiro highlights the complexities of a dual regulatory regime. While the CFTC gains new authority over spot markets, the SEC retains significant control. This division of power could result in overlapping regulations and increased bureaucratic hurdles, rather than streamlined oversight. 3. Industry Skepticism Despite Coinbase CEO Brian Armstrong praising FIT21 as a "resounding win" for clear crypto rules and consumer protection, not all industry leaders are convinced. Clusters founder “0xfoobar” argues that shifting oversight from the SEC to the CFTC doesn't address the fundamental issues, as crypto tokens don’t fit neatly into either regulatory framework. Do you think FIT21 will bring the clarity the crypto industry needs, or will it create more confusion?

Covered in our latest newsletter: 1. Moves & news: Financial innovation & technology for the 21st century 2. Op-ed: It’s time to move crypto from chaos to order (in Fortune) 3. Resources: 17 misconceptions about SNARKs — and why they hold us back 🗞 Check it out here: https://lnkd.in/gQCntcYy

#News US House to Vote on FIT21 Act to Clarify US Crypto Regulations: The Financial Innovation and Technology for the 21st Century Act (HR 4763), or FIT21, is scheduled for a vote in the U.S.  In order to establish a clear regulatory framework for digital assets, this measure aims to define the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), thereby […] The post US House to Vote on FIT21 Act to Clarify US Crypto Regulations appeared first on Coinscreed.

Exciting news as the US House of Representatives passes the FIT21 Act, marking a potential shift in future crypto adoption.🚀🚀 The FIT21 Act proposes a framework that could exempt cryptocurrencies from many securities regulations, addressing long-standing concerns in the crypto industry. Stay tuned as the FIT21 Act navigates the legislative process, paving the way for a brighter future where crypto innovation can thrive. 🌟 #CryptoRegulation #FIT21Act #CryptoAdoption