Financial Markets and Funds special counsel, Gary DeWaal, spoke with Bloomberg Law on recent efforts by the Securities and Exchange Commission (SEC) to demonstrate its ability to be a tough regulator in the digital assets space. In light of crypto market turmoil resulting from the FTX bankruptcy scandal, Gary noted that the SEC is likely "emboldened" to demonstrate how the regulator is "tough on alleged bad actors." Gary also cited current litigation between the SEC and Ripple that could clarify if a crypto asset is or is not a security, stating that an SEC victory "would have a real chilling effect on the crypto space," potentially adding more "ambiguity to an already confused and ambiguous space."
"Wall Street Veteran Is the Face of Crypto in Ripple-SEC Fight," Bloomberg Law, December 6, 2022
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