Odaily Planet Daily News: The US Securities and Exchange Commission (SEC) recently held its first Crypto Working Group Roundtable at its Washington headquarters, discussing the long-standing core issue of what makes an asset a security. This meeting marks a significant change in the SEC's regulatory approach to the cryptocurrency industry, as the model previously referred to by some cryptocurrency advocates as "regulating through law enforcement" may be coming to an end. Miles Jennings, the general counsel of a16z crypto, stated that the SEC's past regulatory approach has failed to achieve its three major goals: investor protection, capital formation, and market efficiency. He believes that the current approach is' clearly ineffective 'and must be improved. Cooley LLP's special advisor Rodrigo Seira argues that the intention to purchase assets does not automatically make them securities. He used the purchase of art as an example to illustrate that investment intentions should not directly trigger securities regulation.
