Marisa

@mtcoppel

72 Following

160 Followers

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end/ Read our full response here: https://theblockchainassociation.org/wp-content/uploads/2025/05/Blockchain-Association-Response-to-Trading-RFIs.pdf

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5/ The SEC should leverage blockchain's inherent transparency through open-source data and exchange APIs for regulatory surveillance, while avoiding unnecessary collection of personal information. I wrote about these privacy risks last June: https://www.coindesk.com/opinion/2024/06/05/cryptos-latest-privacy-battle

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6/ The Commission has successfully adapted its rules for new technologies in the past. We urge a similar approach for crypto that balances innovation with investor protection, ensuring US leadership in digital asset markets.

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4/ We describe the importance of side-by-side trading and also recommend the SEC provide guidance concerning best execution that focuses on "reasonable diligence", with enhanced transparency through disclosure requirements rather than prescriptive order-protection rules.

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3/ We outline the key innovations in crypto trading that the SEC should consider when making key regulatory updates. For instance, the SEC should recognize the benefits of disintermediation, real-time settlement, and reduced costs.

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2/ At a high level, our letter advocates for a flexible and fit-for-purpose approach to regulating crypto asset trading. The Commission should recognize how blockchain technology enables new trading, clearing, settlement, and custody methods that promote greater efficiency and safety.

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1/ Today, we submitted our response to SEC Commissioner Peirce's "There Must Be Some Way Out of Here" request for input on trading-related topics (focusing most of our response on questions 15-19 in the RFI). Here’s Peirce’s post from Feb: https://www.sec.gov/newsroom/speeches-statements/peirce-statement-rfi-022125

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5/ A regulatory framework that misunderstands staking could harm network security, innovation, and U.S. leadership in blockchain technology. We urge the SEC to publish guidance consistent with the recent statements on memecoins, mining, and stablecoins.

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6/ Thank you to the Crypto Task Force and Commissioner Peirce for inviting dialogue on these critical issues. We’re committed to working with policymakers to ensure staking remains accessible, secure, and aligned with U.S. law.

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3/ We emphasized the importance of making staking accessible — individuals should have safe, simple ways to participate in network security without needing to be technical experts.

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4/ We also explained why staking and staking services are not securities transactions under federal law. Bottom line: Staking is fundamentally about network operations, not investment contracts. The staker is engaging in an administrative or ministerial activity to secure the network.

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2/ Staking is critical to blockchain networks. It secures decentralized infrastructure, supports network governance, and ensures the integrity of the systems that power modern digital innovation.

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1/ Today, in partnership with the Proof of Stake Alliance, Blockchain Association submitted a letter to the SEC responding to the Crypto Task Force and Commissioner Peirce’s RFI on staking-related issues. Full letter: https://media.cryptoforinnovation.org/2025/04/POSA-CCI-RFI-Response-to-SEC-FINAL.pdf?_gl=1*1q2gx71*_ga*MTk3NzA3MTc4Ny4xNzQ1MjU2Mjcx*_ga_F9NE23R22E*MTc0NjAyNDAwNy4zLjAuMTc0NjAyNDAwNy42MC4wLjA. 🧵

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Jake Chervinsky

For years, the SEC was unwilling to answer even simple questions like "are stablecoins securities?" It's great to see the SEC give such a clear explanation as to why the answer is "no" under both the Howey and Reves tests. This SEC is cleaning up the mess 🌟 https://x.com/davidsacks47/status/1908263063650001144

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A J Tree morning

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Itap beautiful Solana Beach

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The Senate just voted to repeal the IRS’s DeFi broker rule — truly bipartisan with 18 democrats. Love to see it! 🎉

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It’ll be quite the week for crypto policy this week with a White House crypto summit and likely EO. 👀

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Amanda Tuminelli

A huge win for @uniswap and software devs everywhere today. The 2d Cir affirmed the dismissal of fed securities claims in Risley v. Uniswap Labs. "The threshold issue in this case is whether the developers of automated computer codes that facilitate the transfer of cryptocurrency on a decentralized exchange may be held liable under federal securities laws for the alleged fraudulent conduct of third parties on that exchange." Inject it into my veins: "In sum, we agree with the district court that it “defies logic” that a drafter of a smart contract, a computer code, could be held liable under the Exchange Act for a third party user’s misuse of the platform . . . Accepting Plaintiffs’ allegations as true, the district court appropriately determined that Defendants’ smart contracts were, at best, collateral to the third parties’ scam token activities and the type of tangential activity that falls outside of Section 29(b)."

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The first of several critical guidance documents out of the SEC. Amazing we are seeing something so substantive so soon. Thanks for the analysis @milesjennings https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins

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