#CryptoRoundTableRemarks

The SEC’s treatment of decentralized finance and other emerging technologies over the past four years was not conducive to regulatory transparency and discouraged entrepreneurs and those developing DeFi from engaging with the Commission. However, that approach has recently changed under the Crypto Task Force, which is charged with coordinating the Commission’s effort to find answers to many pressing questions. Thus far, they have changed the SEC’s posture on crypto, embraced difficult regulatory questions, and promoted transparency by engaging with the market participants driving innovation and change.

This SEC is committed to high quality regulation. High quality regulation takes time and administrative processes matter. For those who are involved in the development of DeFi, please be patient and work with the Commission and its staff towards achieving the best possible outcome.