
Macro Hive Conversations With Bilal Hafeez Ep. 345: Marc Elovitz on Private Market Evolution, Crypto's Regulatory Shift, and AI Explainability
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Feb 13, 2026 Marc Elovitz, Global Head of Investment Management Regulation at McDermott Will & Schulte, explains shifts in private markets, tokenization, and how regulators are aligning around crypto. He discusses stablecoin yield limits, institutional blockchain use cases, and the push for durable digital-asset rules. Marc also tackles AI explainability and governance disputes shaping M&A and corporate law.
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'Private' Doesn’t Mean Opaque
- Private companies are often more transparent to sophisticated investors than the label 'private' implies.
- The SEC's role is disclosure and capital formation, not picking good investments for investors.
Regulatory Harmony Can Unlock Crypto
- SEC and CFTC harmonization matters: coordinated regulators can accelerate digital asset market development.
- Project Crypto signals the U.S. intends to reclaim leadership in digital asset innovation.
Blockchain Use Cases Go Beyond Crypto
- Institutions are planning broadly around blockchain beyond simply buying cryptocurrencies.
- Tokenization and settlement efficiency are seen as major use cases, not merely fads.


