[U.S. SEC Meeting Reveals Regulatory Divide Between Traditional Finance and Crypto Industry]
The U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee held a meeting yesterday, with executives from Citadel Securities, Coinbase, and Galaxy participating in the discussion. The meeting highlighted the divide between traditional finance and the crypto industry on the issue of decentralization. Samara Cohen, Senior Managing Director at BlackRock, stated that the diverse perspectives of the six-member panel reflect current challenges and could lead to various solutions. Scott Bauguess, Vice President of Regulatory Policy at Coinbase, argued that decentralized exchanges (DEXs) should not be subjected to the same regulatory obligations as brokers. SEC Chairman Paul Atkins emphasized the need to provide a compliance pathway to leverage the unique capabilities of new technologies in order to drive U.S. innovation, investment, and employment.