Brandon Ferrick, General Counsel of Douro Labs, stated that the SEC's public stance on crypto policy and the roundtable discussions indicate that the industry has not been captured by regulation. Ferrick pointed out that signs of regulatory capture include the movement of employees between the public and private sectors, the same list of attendees, and special treatment for certain crypto projects.

The SEC held its first crypto roundtable on March 21, 2025, with participants including crypto industry executives, SEC officials, and opponents. Former SEC official John Reed Stark criticized the industry, opposing comprehensive regulatory reform, arguing that digital assets should follow existing securities laws.

The SEC plans to hold its next meeting on April 25, focusing on guidelines for crypto custody and client asset management.