SEC Embarks on Crypto Roadshow to Engage Startups
On August 1, teh Securities and Exchange Commission (SEC) launched the Crypto Task force on the Road. This initiative aims to gather insights from small crypto startups before finalizing new rules. The tour will visit ten cities from August to December, starting in Berkeley and ending in Ann Arbor.
The SEC wants to understand how current regulations impact early-stage projects. Eligible firms must have fewer than ten employees and be under two years old. Each meeting is a small roundtable, allowing startups to discuss how rules affect their operations.
Previously, the SEC’s approach was enforcement-focused.Under Gary Gensler, the agency brought over 120 cases against crypto firms. Ripple, LBRY, and BlockFi were notable examples. This habitat made founders wary of their first SEC contact being an examination.
However, with Donald Trump’s return and Paul Atkins as SEC Chair, the tone has shifted. atkins, known for supporting lighter regulation, announced Project crypto. this effort aims to clarify token classification and create exemptions for activities like ICOs.
The roadshow follows five earlier roundtables in Washington. These sessions leaned on established firms with lobbying presence. The new tour expands the conversation to early-stage teams, offering a broader perspective.
Several factors drive this shift. The crypto market’s scale, global funding shifts, and Trump’s direct pressure on regulators are key.Startups will discuss token classification, compliance costs, banking access, and custody requirements.
whether the SEC incorporates this input will determine if the roadshow marks a genuine policy shift or temporary optics.The tour is a step toward structured dialog, but its impact remains to be seen.
