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Many in the crypto industry have been calling for clear guidance
from government regulators, especially as new sectors like DeFi
evolve and high-profile companies collapse. Jonathan Shapiro, Complex Litigation & Dispute Resolution
partner, said that SEC registration creates new challenges for
companies and investors, especially because they haven’t been
issued explicit guidance. “There’s no way to necessarily
get confidence that even if you’re resolving one set of
exposure, then you’re not going to be lamb to the slaughter
under any number of other spheres,” he told Fortune. Nick Losurdo, Financial Industry and Digital Currency & Blockchain partner and
former SEC counsel, described the agency’s approach as
“broad-brushing without following up with any
articulation.” “We all learned in fourth and fifth grade,
you can’t just show your math conclusion-you’ve got to show
the math,” he said.
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