A Regulator’s View of Crypto

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[00:02:15] - [First question] - The role of a regulator and the relationship between a regulator and the sector or product they oversee

[00:04:29] - Her thoughts on how regulators are more like lifeguards than parents

[00:05:36] - Striking a balance that allows innovation to thrive instead of suppressing it

[00:07:17] - Overview of the 3 pronged approach of the SEC’s crypto mission

[00:08:41] - The tension of new capital formation and retail investor exposure

[00:10:15] - Being painted as an entirely fraudulent industry full of bad actors

[00:11:18] - What it’s like working inside of the seeming blackbox that is the SEC

[00:13:33] - How many of the 4,500 employees are dedicated to crypto and finances

[00:14:19] - Internal debates and public meetings amongst the commissioners  

[00:16:18] - Ways the commissioners learn about crypto being unable to participate in it

[00:17:36] - Whether or not there are restrictions on crypto ownership for the rest of the SEC

[00:20:38] - Managing the entrepreneurial spirit as we navigate the legalities of crypto

[00:23:16] - How revolutionary it would be if TradFi transactions were on a public blockchain 

[00:24:40] - The Safe Harbor proposal and how Safe Harbors work in the SEC

[00:26:29] - Risky corporate assets and how blockchains could have averted the 2008 crisis

[00:28:47] - Difficulties of being a regulator and respecting the responsibility 

[00:29:56] - Self-reporting and the crypto community reporting suspicious activity

[00:32:12] - A skin-in-the-game investment that promotes self-education

[00:34:24] - Where the Safe Harbor stands and what it’ll take for it to move forward

[00:35:37] - The Howey Test and realizing we need new securities laws

[00:37:59] - Going from a security to a non-security and instruments that allow a transition

[00:39:25] - Leading a commission and if there’s a risk of losing a case

[00:43:18] - Alternative Trading Systems and Communications Protocol Systems

[00:45:03] - When the market could expect a spot Bitcoin ETF

[00:46:18] - Whether or not one can challenge a decision made by the SEC

[00:46:50] - NFT financialization and how they might need to be regulated

[00:48:12] - Her thoughts on DAOs and they’re rapid evolution

[00:50:29] - The underbanked using crypto and whether or not it impacts the SEC’s agenda

[00:51:54] - Emergence of stablecoins and her thoughts on their development

[00:53:37] - What role if any might self-regulating organizations play in the future

[00:56:35] - What she’s excited to see achieved over the rest of her term and what are some exciting dates or events she’s watching in the crypto space