A new (digital) age at the SEC

This op-ed argues that the SEC must update its approach to crypto, which it calls harmful enforcement and abdication of regulation, and it proposes immediate regulatory adjustments while legislation is pending. Among the proposals are interpretive guidance so blockchain projects can distribute airdrops without being treated as securities offerings, and expanded Regulation Crowdfunding limits, with one example of up to $75 million. It also urges repealing SEC Staff Accounting Bulletin 121, which the author says moves custodied crypto assets onto custodians' balance sheets, and restoring a market-size test for crypto ETP listings.