White & Case partner Ladan Stewart and associate Shuhang Liu published an article for The National Law Journal on market regulators' progress in developing a regulatory framework for digital assets.
The authors detail the efforts that the SEC and CFTC have taken following the publication of a report from the President's Working Group on Digital Asset Markets, including the SEC's "Project Crypto" announcement and the CFTC's launch of "Crypto Sprint."
While the authors note that "a fully developed market structure for crypto assets will take time to develop and implement," they describe several key elements that are likely to be included, such as "clarity on whether particular assets are securities or commodities" and the likely benefits of "innovation exceptions" for market participants.
Read the full article here.
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