Overview
In a recent interview with Capitol Account, Steptoe partner and former SEC counsel, Coy Garrison, discussed the evolving relationship between the cryptocurrency industry and financial regulators. Garrison highlighted the shift from enforcement-led approaches to more collaborative discussions, exemplified by the Securities and Exchange Commission's (SEC) first public crypto roundtable. He emphasized the challenges of defining digital asset securities under the Howey test and the necessity for clearer regulatory frameworks. Garrison also touched on the need for Congressional intervention to address market structure legislation. Additionally, he provided insights on improving the SEC's shareholder proposal process and regulating proxy advisory firms.
