Earlier this week, Paul Atkins was sworn in as SEC Chair. This begins the third official term he’s served with the agency. Shortly after the Senate confirmed Atkins, he got right to work defining his priorities. To his credit, he seems intent on laying out unambiguous regulatory guardrails for the...
Stablecoins, cryptocurrencies pegged to the U.S. dollar, have emerged as a focal point in Washington's evolving approach to digital assets. These are central bank digital currencies, which feature the speed and accessibility of crypto. They remove the price instability that comes with assets such as Bitcoin, which makes them suited...
El Salvador's bold embrace of Bitcoin has positioned it as a fascinating, if controversial, player in the global crypto landscape. Now, the nation is exploring new avenues to deepen its involvement, and its recent discussions with the U.S. Securities and Exchange Commission (SEC) signal a potentially groundbreaking development: a crypto...
The SEC just recently traveled to El Salvador to further discuss the creation of a cross-border crypto regulatory sandbox. This latest trip though opens up a litany of bigger questions. Was this an honest attempt to comprehend a country moving toward adoption of digital assets? Or was this simply a...
To cut through the current market confusion Nasdaq has proposed a new framework for categorizing digital assets that would help provide much-needed clarity to the regulatory landscape. The detailed proposal was recently sent to the Securities and Exchange Commission’s (SEC) new crypto task force. To help with this, it proposes...
Imagine this: a young artist in rural Cambodia, struggling to make ends meet, finally able to sell her intricate silk paintings directly to collectors in New York, bypassing gallery commissions and predatory middlemen. That’s the promise El Salvador’s crypto experiment has opened up. It’s not just about Bitcoin, but to...
$811 million. Let that number sink in. That’s over 130 times the amount Nigerians lost in the CBEX “crypto” scam. This massive amount hangs the financial wellbeing of hundreds of thousands in the balance. Yet it would set Nigeria’s booming Web3 aspirations a staggering blow backwards. And it begs the...
Just this month, the SEC made a trip to El Salvador to help establish a “cross-border regulatory sandbox.” This beautiful collaborative effort is just the tip of the iceberg. If so, are these examples of true collaboration? Or, are we really trying to prevent the U.S. from imposing its will...
President Nayib Bukele’s administration has positioned El Salvador as a global leader in the regulation of digital assets. This transition has drawn a lot of international interest. The nation took a brave stance in adopting Bitcoin as legal tender. Its ambitious plans for a “Bitcoin City” really made it unique....
David Tutor, special counsel at WilmerHale’s New York office, representing the firm. He does bring a wealth of experience from his previous role as chair of the Securities and Exchange Commission (SEC). His deep experience gives him a distinct perspective on the changing regulatory framework for crypto assets and other...
