SEC needs waivers for staff Grewal said US President Donald Trump directed the SEC and other agencies to submit recommendations for crypto regulations due in around 90 days, and SEC “staff still cannot use the technology on which they are making recommendations.”He echoed a similar sentiment in his letter to Atkins and crypto-friendly SEC commissioner Hester Peirce, arguing being unable to hold crypto is a roadblock for the agency’s Crypto Task Force in creating a regulatory framework. Source: Paul GrewalWhile it’s up to OGE to rescind the advisory, the SEC should take its own action, Grewal said. “For example, issuing waivers to crypto task force members and other staff actively working on task force matters would be consistent with measures already taken in commensurate advisory situations,” he said.
Source: Paul GrewalLegal Advisory 22-04, issued on July 4, 2022, by the OGE, prohibits SEC staff from buying, selling, or otherwise using crypto and stablecoins because they are not “publicly traded securities” and don’t qualify for an exception, unlike stocks.
Coinbase has urged the US Office of Government Ethics to remove a rule banning Securities and Exchange Commission staff from holding crypto.
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Author / Journalist: Cointelegraph by Stephen Katte
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