SEC Cmrs Hester Peirce and Mark Uyeda w/ a 🔥dissent on the @shapeshift settlement. 

Namely, that the SEC:
1) doesn’t specify which of the 79 assets might constitute investment contracts
2) doesn’t allege any fraud or consumer harm occurred

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This further underscores (directly from two Commissioners!) what @paradigm Policy wrote about last year in our three-part examination of the SEC’s registry and disclosure-based regime — and why it’s nonviable for crypto companies.

Part I:

This further underscores (directly from two Commissioners!) what @paradigm Policy wrote about last year in our three-part examination of the SEC’s registry and disclosure-based regime — and why it’s nonviable for crypto companies.

Part I:
https://policy.paradigm.xyz/writing/secs-path-to-registration-part-i

Part II:
https://policy.paradigm.xyz/writing/secs-path-to-registration-part-ii

Part III:
https://policy.paradigm.xyz/writing/secs-path-to-registration-part-iii

https://www.sec.gov/news/statement/peirce-uyeda-statement-a-crypto-world-turns-03-06-24