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Troutman Pepper Locke publishes analysis of crypto regulation without new legislation
Troutman Pepper Locke said it published an article by Genna Garver and David Madrazo on agency action on digital assets after the Senate rejected cloture on the CLARITY Act (H.R. 3633) 49-50 on September 15. The firm said the SEC’s proposed Regulation Crypto Assets and the CFTC’s pre-rule on crypto asset markets cannot supply what only Congress can: spot-market licensing authority, a Bankruptcy Code customer-property priority and a statutory Bank Secrecy Act classification for crypto platforms.
Key points
- The firm’s article addresses spot-market licensing and the limits of existing agency authority.Troutman Pepper Locke
- Troutman’s analysis discusses customer-property treatment in bankruptcy and Bank Secrecy Act classifications.Troutman Pepper Locke
- The firm’s article considers how future administrations or judicial challenges could affect agency measures.Troutman Pepper Locke
- Troutman said it is preparing responses to agency requests for comments.Troutman Pepper Locke