| Brought to you by: | | | I never quite cared for the "Crypto Mom" moniker bestowed upon SEC Commissioner Hester Peirce. A fine meme, sure, but I always thought it kind of downplayed her sharp mind and intellectual curiosity with respect to crypto. | During the Gensler era, amid her many publicly issued rebuttals, one always got the impression that she was chomping at the bit to put her own stamp on American crypto regulations. Peirce's ideas were perhaps best exemplified in her crypto "safe harbor" proposal from 2020 and its later iterations. | This week, at the helm of a new crypto-focused task force, Peirce's approach represents a wholly clean break with her former boss. It is, as she explained in a statement published earlier this week, an attempt to craft a regulatory environment that acknowledges — and, indeed, supports — the idiosyncrasies of crypto, instead of trying to fit it inside a framework that first took shape in the early 20th century. | Ben Strack walked through some of the particulars of the proposal earlier this week so I'll focus, briefly, on the big picture. | Namely, Peirce's pitch would see the SEC actually create a more open-door approach to crypto oversight vs. the come-in-and-be-sued approach largely pursued under Gensler. If realized, I think this would be a positive development, and I hope these ideas do become fully realized. | Here's hoping. | What bothers me the most is that it took this long to reach this point. | I think much of the Gensler era's worst outcomes could have been avoided had Congress ceased malfunctioning over basic governance tasks and instead passed forward-looking legislation that actually provided actual regulatory clarity. Instead, we got bad blood and wasted time. | Of course, the SEC's new crypto task force will have to navigate what I think can charitably be called a colossal conflict of interest: Its boss's increasingly complex relationship with crypto. World Liberty Financial, the TRUMP memecoin, and now indications that a Trump-owned media company may one day pursue bitcoin-related investment products. | One hopes the pressure the SEC might experience under Trump doesn't imperil the good work that might result from Peirce's task force. | Unfortunately, if history is any guide, such an outcome wouldn't be altogether surprising. | And now, on to the round-up: | — Michael McSweeney | | Brought to you by: | | Morpho is the first and only DeFi protocol integrated by Coinbase. | As the go-to infrastructure for onchain loans, Morpho's immutable code sets the gold standard for decentralization, giving builders full ownership and control. Leverage Morpho's flexibility to create lending and borrowing solutions tailored precisely to your users' needs. | Try Morpho today. | | | | | | | | | | Congress is putting its crypto dancing shoes on, stablecoin style. |
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| | | | | | Pull on up, it's Story-time. The 0xResearch is digging into the protocol's token, too. |
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| | | | The lines between crypto, traditional finance, and policy aren't blurring, they're disappearing. The people making that happen? They're speaking at DAS NYC. | Cathie Wood (ARK Invest) on the seismic shift in capital allocation and why the biggest bets are still ahead. Caitlin Long (Custodia Bank) on the battle for crypto-friendly banking and why regulators are playing catch up. Dan Tapiero (1RT & 10T Holdings) on the real institutional play — where the biggest money is quietly positioning.
| This is where the people with real skin in the game lay it all out. | 📅 March 18-20 | NYC | | | |
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