The plethora of public statements and draft legislation published over the past few months in the US as part of the effort to define a regulatory framework for digital assets have all but failed to bring market participants the clarity they need. Just last week, the White House published a fact sheet, which it called the first-ever comprehensive framework for the responsible development of digital assets. “This doesn’t move the needle in any significant way in my mind,” said Nick Losurdo, Financial Industry and Digital Currency & Blockchain partner and former SEC commissioner counsel while speaking with International Financial Law Review. “There’s a haphazard hodgepodge of soundbites coming out of the SEC, the CFTC, the White House, and even from Congress, who are all conversing about what the best and most feasible approaches are. Throw a dart at the wall, and that’s as good a guess as to what we’re going to end up with.”
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