The CEO criticizes agency's shift from core principles.
He sees internal disagreements as a sign of broader challenges in the regulatory landscape.
Norman Reed, the Interim CEO of Binance.US, has launched a
scathing critique of the Securities and Exchange Commission's (SEC) strategy
for regulating digital assets, characterizing it as fundamentally flawed and
harmful to the US economy. Reed, a former SEC employee, has articulated his
concerns in a strongly worded op-ed for Fortune, pointing out the agency's
departure from core principles such as transparency, fairness, and stable
regulation in its management of the rapidly evolving digital asset landscape.
SEC's Approach: A Regulatory Overreach According to the CEO of Binance.US
In his editorial, Reed emphasizes the crucial role of
regulatory frameworks in maintaining a healthy financial ecosystem and
protecting the interests of investors. Drawing on his background as a former
SEC employee, Reed expresses disappointment over what he perceives as a
deviation from the agency's founding principles.
"The SEC was founded on principles of transparency,
fairness, full disclosure, and stable regulation," Reed notes in his
op-ed. "Yet with regard to digital assets, the SEC has lost its way."
Reed further contends that the SEC's current approach
involves a jurisdictional overreach regarding digital assets, lacking proper
authorization from Congress or the courts. He accuses the SEC of opting for
one-off enforcement cases instead of engaging in collaborative efforts with
legislators and other regulatory bodies to establish a comprehensive and
well-informed regulatory framework.
The Interim CEO's critique comes at a time when internal
dissent within the SEC has also been highlighted, with Commissioner Elad
Roisman expressing concern over the lack of clarity surrounding the application
of securities laws to digital assets. Reed underscores these internal
disagreements as indicative of the broader challenges and uncertainties within
the regulatory landscape.
Executive Branch's Silence on Digital Asset Definition
Amplifies Uncertainty
Members of the House Financial Services Committee have
joined the ranks of critics, echoing concerns that the SEC's current approach
leaves the digital asset industry "without clear rules of the road."
Reed points out that the executive branch has yet to provide a clear definition
for digital assets, while other regulators
characterize them differently from securities.
Reed concludes his op-ed by advocating for three remedies
for the SEC: providing
fair notice to the industry, abandoning arbitrary efforts against crypto, and
collaborating with Congress to design a comprehensive and effective regulatory
framework for the digital
asset industry.
Norman Reed, the Interim CEO of Binance.US, has launched a
scathing critique of the Securities and Exchange Commission's (SEC) strategy
for regulating digital assets, characterizing it as fundamentally flawed and
harmful to the US economy. Reed, a former SEC employee, has articulated his
concerns in a strongly worded op-ed for Fortune, pointing out the agency's
departure from core principles such as transparency, fairness, and stable
regulation in its management of the rapidly evolving digital asset landscape.
SEC's Approach: A Regulatory Overreach According to the CEO of Binance.US
In his editorial, Reed emphasizes the crucial role of
regulatory frameworks in maintaining a healthy financial ecosystem and
protecting the interests of investors. Drawing on his background as a former
SEC employee, Reed expresses disappointment over what he perceives as a
deviation from the agency's founding principles.
"The SEC was founded on principles of transparency,
fairness, full disclosure, and stable regulation," Reed notes in his
op-ed. "Yet with regard to digital assets, the SEC has lost its way."
Reed further contends that the SEC's current approach
involves a jurisdictional overreach regarding digital assets, lacking proper
authorization from Congress or the courts. He accuses the SEC of opting for
one-off enforcement cases instead of engaging in collaborative efforts with
legislators and other regulatory bodies to establish a comprehensive and
well-informed regulatory framework.
The Interim CEO's critique comes at a time when internal
dissent within the SEC has also been highlighted, with Commissioner Elad
Roisman expressing concern over the lack of clarity surrounding the application
of securities laws to digital assets. Reed underscores these internal
disagreements as indicative of the broader challenges and uncertainties within
the regulatory landscape.
Executive Branch's Silence on Digital Asset Definition
Amplifies Uncertainty
Members of the House Financial Services Committee have
joined the ranks of critics, echoing concerns that the SEC's current approach
leaves the digital asset industry "without clear rules of the road."
Reed points out that the executive branch has yet to provide a clear definition
for digital assets, while other regulators
characterize them differently from securities.
Reed concludes his op-ed by advocating for three remedies
for the SEC: providing
fair notice to the industry, abandoning arbitrary efforts against crypto, and
collaborating with Congress to design a comprehensive and effective regulatory
framework for the digital
asset industry.
Wall Street Bitcoin Giant MARA Flexes Mining Muscle with 14% Hashrate Surge
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24