To be clear, [Security Traders Association] has no opinion on whether Chair Gensler’s $2.149 billion request is too much, or too little. We simply ask: why should the equities market bear the entire burden of funding a regulator charged with overseeing multiple asset classes? It’s a question we asked in 2014, and we have yet to see a logical answer.
The rise of digital assets compounds this problem. With the level of intricacy and innovation that exists in the crypto space, regulating it will be a mammoth task, forcing the equities market to foot a much larger bill while being subject to the same level of oversight. Having equities underwrite crypto regulation isn’t just unfair, it could easily result in a large mismatch between the resources available and the resources needed.
‘Enforcement 40’ for 2020
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