Web3 Lawyer Predicts US Crypto Upturn After Key Industry Wins This Year
Digital asset lawyer Jeremy McLaughlin has expressed optimism on a re-ignition of the United States cryptocurrency market following landmark wins recorded by Ripple and Grayscale over the Securities and Exchange Commission (SEC).
Speaking on Aug. 31 at an Intersekt23 panel in Melbourne, McLaughlin, a partner from K&L Gates stated that recent court victories have turned the tide as courts “rein in the SEC.”
While stressing the negative effects of the harsh anti-industry regulations by the SEC which include migration of certain creatives and executives to other supporting jurisdictions, he noted that a lot can change positively creating a rebound among US investors.
According to him, initial regulations were made by state authorities which came with a lot of clarity before the SEC and the Commodity Futures Trading Commission (CFTC) came on board leading to panic and conflicting regulatory statements.
“People delisted tokens, some companies pulled out of the U.S. because they saw how aggressive the SEC was being, and continues to be.”
As a result of this confusion, he added that being a lawyer is quite difficult with the present legal framework as it has become difficult to give clients a clear-cut answer.
Like other pro-industry commentators, he projected a growth in the light of bee developments around a spot Bitcoin ETF which has been tipped to provide fresh liquidity as the market opens to renewed institutional investments.
“Now that the courts are starting to rein in the SEC a bit, I think there’s some hope that the industry is kind of igniting again in the U.S. Finally, there are cases that are being filed and the decisions have been going strongly in the favor of the digital asset industry,” he added.
Also speaking at the
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