At Intersekt23 in Melbourne, legal expert Jeremy McLaughlin discussed the US digital asset scene and hinted at a potential revival. Recent court decisions have drastically changed the regulatory landscape.
SEC’s Hold Weakens, Promising Future for US Crypto
McLaughlin’s analysis helps us understand a bunch of fights in the court that have not been good for the SEC. They’ve had some big losses. One of these fights was when a crypto company argued against the SEC.
Also, Grayscale Investments had a fight with the SEC and won. A judge in a District Court said the SEC couldn’t stop Grayscale from changing its Bitcoin fund into a different kind of fund that’s traded on an exchange.
In July, the SEC didn’t fully win its fight with Ripple Labs about XRP sales. A judge’s decision showed that XRP wasn’t seen as a security when regular people bought it.
McLaughlin shared how hard it is to guide clients when things are so unsure. But he also saw a little bit of hope coming from this mess of rules.
World Changing, Australia Falling Behind
Talking about another side of the discussion, the people on the panel talked about how Australia’s rules for crypto are compared to other places.
Effie Dimitropoulos, who is in charge at Novatti, said one word to say it: “Slow.” She talked about Hong Kong and the European Union, and showed how Australia’s rules are slower.
She gave proof for what she said by talking about the new rules in Hong Kong and the European Union. She thought Australia’s rules were not moving ahead as much.
Dimitropoulos also talked about how hard it is for local crypto businesses to figure out the rules that keep changing. There are new rules coming, like the Australian Securities and Investments Commission’s and Senator Bragg’s rules. So, the rules for crypto in Australia might change soon.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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