Sandra Hanna Quoted on SEC Crypto Guidance in Forbes
"SEC: Punishing Progress While Rewarding Confusion"
Sandra Hanna was quoted on the Securities and Exchange Commission's (SEC) regulation of the cryptocurrency market. Hanna observes that important crypto industry players have asked for guidance and concrete regulation, but that has not been forthcoming. "The SEC should, however, work with the players trying to get it right in advance of a substantial offering. In other contexts, market participants often engage with the staff through a well-established process of 'no-action' letters before engaging in some activity. A no-action letter provides some assurance that if the advisor does precisely what is laid out to the staff, the activity would not result in an enforcement action. The well-established crypto participants are, in good faith, trying to engage with the staff. For reasons none of us understand, that process is too slow and cumbersome and has yet to bear fruit. It needs to move faster, for sure."