Understanding SEC Registration Issues in the United States: Paradigm’s Perspective
According to reports, Web3 venture capital firm Paradigm published a policy article today on SEC registration issues in the United States. The article states that US SEC Chairman G
According to reports, Web3 venture capital firm Paradigm published a policy article today on SEC registration issues in the United States. The article states that US SEC Chairman Gary Gensler “attempted to forcibly include encrypted assets that may not even constitute ‘securities’ in an inappropriate disclosure framework, which is a bad policy.” The agency pointed out that the SEC failed to provide users and investors of encrypted assets with the information they needed, and also denied the SEC’s claim that the regulatory agency provided a feasible compliance path for crypto entrepreneurs. Paradigm stated that the current information disclosure policy was formulated in the 1930s long before the emergence of the internet, and the current policy is “tailored for centralized companies issuing securities,” while the crypto market is fundamentally different. The institution added that securities provide holders with legal rights over centralized entities, however, most cryptocurrencies do not have “legal rights” and only have “technical capabilities in the protocol”. （Cointelegraph）
Paradigm: The US SEC’s attempt to regulate encryption is a “bad policy”
Introduction
– Overview of SEC registration issues
– Paradigm’s policy article addressing SEC registration issues
The Problem with the SEC’s Information Disclosure Framework
– SEC chairman Gary Gensler’s attempt to include encrypted assets in an inappropriate disclosure framework
– The lack of information provided to users and investors of encrypted assets
– The absence of a feasible compliance path for crypto entrepreneurs
The Outdated Information Disclosure Policy
– The current policy’s formulation in the 1930s
– The policy’s focus on centralized companies issuing securities
– The crypto market’s fundamental differences
Legal Rights vs. Technical Capabilities in the Protocol
– Securities providing holders with legal rights over centralized entities
– Most cryptocurrencies not having legal rights, only technical capabilities
Paradigm’s Proposed Solution
– Paradigm’s proposed changes to SEC registration policies
– Properly addressing the differences between centralized and decentralized entities
– Providing a feasible compliance path for crypto entrepreneurs
The Impact of Paradigm’s Policy Article
– The implications of the SEC’s outdated information disclosure policy
– The potential benefits of updated registration regulations
Conclusion
– Recap of the issues with the SEC’s information disclosure policy
– Paradigm’s proposed solution to SEC registration issues
– The need for updated registration regulations in the crypto market
FAQs
1. What is the SEC’s information disclosure policy?
2. How does the crypto market differ from traditional securities markets?
3. What can crypto entrepreneurs do to ensure compliance with SEC regulations?
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