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The US Securities and Exchange Commission’s (SEC) crypto task force has met with members of the Crypto Council for Innovation (CCI) as well as Strategy founder Michael Saylor and Robinhood.
According to a meeting note, 20 members of the CCI, which includes representatives from Coinbase and Opensea, met with the task force on Friday. Saylor met with the team on the same day to discuss regulatory priorities, and Robinhood met with them on 19 February.
During their discussions with the SEC, CCI members focused on key issues such as defining when cryptocurrencies become securities and ensuring that 1:1 dollar stablecoins are not securities.
Robinhood's meeting focused on amending and improving US regulatory structures in crypto.
"While Congress continues to pursue much needed legislation, the Commission has—and has had since 1996—the authority now to establish at least a basic, provisional regulatory regime for digital assets," said Dan Gallagher, Robinhood's chief legal, compliance and corporate affairs officer in the memo.
He added that the SEC could address rulemaking related to registration requirements, antifraud protections, and custody.
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In Saylor's meeting, the SEC discussed the development of an industry taxonomy and the establishment of a regulatory framework.
"By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy," Saylor said.
"A capital markets renaissance fueled by digital assets will unlock trillions in wealth, empower millions of businesses, and solidify the US dollar as the foundation of the 21st-century digital financial system."
In a separate meeting, Nasdaq also echoed calls for regulatory clarity, advocating for a framework that "should be firmly rooted in existing federal securities laws, which have served investors well for almost 100 years."
The meetings come as the SEC drops a series of probes and charges into the likes of Robinhood, OpenSea, and Coinbase.
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