Summary
Paradigm argues that the SEC’s registration process for crypto assets is flawed and lacks meaningful disclosures, leading to a lack of access to important information for the public. The Republican members of the commission also disagree with Chair Gensler’s stance on the issue.
Key Points
1. The SEC’s registration process for crypto assets currently requires a centralized issuer, leading to a lack of meaningful disclosures and limited public access to material information.
2. The Republican members of the SEC are in opposition to Chair Gary Gensler’s belief that the SEC’s actions regarding crypto assets are clear, fair, and legally sound.
3. The Paradigm brief filed with the U.S. Court of Appeals for the Third Circuit argues that the current regulatory framework for crypto assets is incoherent and hinders transparency and access to important information for the public.