Web3 VC firm Paradigm has criticized SEC Chair Gary Gensler's crypto regulation as bad policy in a policy paper. The firm argued that crypto asset markets differ from securities markets and a new framework is needed to regulate the crypto space.
Paradigm, a Web3 VC firm, criticized SEC Chair Gary Gensler’s “brute force” crypto regulation as bad policy.
It asserted that SEC Chair Gary Gensler’s attempt to “brute force” crypto assets that may not even constitute ‘securities’ into an ill-fitting disclosure framework is bad policy. According to Paradigm, the present disclosure policy was created in the 1930s, long before the internet existed. It contends that current laws are “tailor-made for centralized companies issuing securities” and that cryptocurrency markets are fundamentally different.“Crypto asset markets differ in meaningful ways from securities markets.
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