Troutman Pepper lawyers predict that crypto wallets and TradFi firms could face the agency's wrath.
Crypto has made “non-compliance . . . [its] business model,” at least according to U.S. Securities and Exchange Commission Chair Gary Gensler. With that belief pervasive among the regulators primarily tasked with regulating securities in the United States, it is no surprise that enforcement actions involving cryptocurrencies are at an all-time high.
Ethan G. Ostroff and Michael S. Lowe are partners and Samuel F. Rogers and Brett E. Broczkowski are associates for national law firm Troutman Pepper. As regulators continue to ramp up enforcement efforts by relying on novel interpretations of existing law, two questions arise: What is next? And what will break first, our antiquated securities laws or the crypto industry?Having closely observed the actions of regulators, we envision crypto wallets and certain digital asset transactions will be the next target.
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