taking a strong enforcement agenda, there is no question that firms have to take the view that crypto assets are securities and platforms that exchange these assets have to accept that.”, or drop their businesses all together, will determine the landscape of the industry in the future, Pantana said. The reverberations of the litigation could put some companies out of business, she said.
Yellen said Wednesday that she sees “some holes in the system where additional regulation I think would be appropriate and we would like to work with Congress to see additional legislation passed.”from moving forward with its lawsuits. Their discussion draft of legislation seeks to delineate agencies’ jurisdiction over certain digital assets and “strike the appropriate balance between consumer protection and encouraging responsible innovation,” McHenry said in a news release.