In a fireside chat I moderated with SEC Commissioner Hester Peirce held by the Blockchain Digital Asset Forum, in conjunction with the NYU Stern Executive MBA program, on March 26, 2019, she explained where her reputation as 'Crypto Mom' comes from — a desire to look at the world with fresh eyes and say, are there things we can do things better? We also discussed a Bitcoin ETF and the prospects for one after Bitwise released a report showing a health legitimate market, as well as initial coin offerings and what will happen to the hundreds of ICO issuers that had initial coin offerings that look much like the ICOs that have already had enforcement actions against them. She described the process that occurs when something like an application for a Bitcoin ETF is submitted to the SEC, whether or not there's a lot of disagreement amongst the commissioners about how to regulate crypto, how much they work to persuade each other to come over to their side and whether Chairman Jay Clayton's opinion overrules everyone else's or whether majority rules. Plus, we covered dexes, stablecoins and security tokens.
View the full show notes on my Forbes page: http://www.forbes.com/sites/laurashin/2019/04/02/sec-commissioner-hester-peirce-on-why-you-shouldnt-have-to-be-rich-to-get-rich/
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Episode links:
SEC Commissioner Hester Peirce: https://twitter.com/HesterPeirce
SEC: https://www.sec.gov
Event link: https://www.eventbrite.com/e/fireside-chat-with-sec-commissioner-hester-peirce-and-laura-shin-tickets-58327939437
Hester's dissent to the Bitcoin ETF disapproval: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723
Bitwise's report: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf
SEC enforcement action against Munchee: https://www.sec.gov/litigation/admin/2017/33-10445.pdf
SEC enforcement action against Paragon: https://www.sec.gov/litigation/admin/2018/33-10574.pdf
SEC enforcement action against Airfox: https://www.sec.gov/litigation/admin/2018/33-10575.pdf
SEC enforcement action against Gladius: https://www.sec.gov/litigation/admin/2019/33-10608.pdf
Speech by William Hinman, SEC director of the Division of Corporate Finance, on ether not being a security: https://www.sec.gov/news/speech/speech-hinman-061418
Token Taxonomy Act: https://www.congress.gov/bill/115th-congress/house-bill/7356
Unchained episode with CZ: https://unchainedpodcast.com/how-binance-became-the-most-popular-crypto-exchange-in-5-months-ep-84/
SEC enforcement action against Zachary Coburn of EtherDelta: https://www.sec.gov/litigation/admin/2018/34-84553.pdf
DTC report on blockchains for securities: http://www.dtcc.com/news/2019/march/13/dtcc-outlines-guiding-principles-for-post-trade-processing-of-tokenized-securities
Thank you to Lawson Baker at TokenSoft (disclosure: a previous sponsor) for helping me think through some of the issues for this episode.
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