Chris Lehane: The SEC isn’t dealing with crypto regulation ‘strategically’

Because the regulatory panorama continues to be shaky for crypto gamers, some regulators could also be overreaching in terms of creating frameworks for the business, stated Haun Ventures’ chief technique officer, Chris Lehane, at starcrypto Disrupt 2023.

“The federal government had a technique,” Lehane stated. However when the SEC is taking a look at crypto or different scorching sectors like synthetic intelligence, it’s utilizing an “enforcement-only strategy to principally set up the coverage for the complete U.S. and crypto,” he stated.

In latest months, the SEC has filed plenty of lawsuits in opposition to main crypto firms, together with Binance and Coinbase, and even in opposition to celebrities like Mila Kunis. However final month, the D.C. Circuit Court docket of Appeals dominated in favor of Grayscale, a digital asset administration agency, in a lawsuit in opposition to the SEC on the matter of a bitcoin ETF, which might spell excellent news for the business.

“The SEC has misplaced plenty of circumstances — that nearly by no means occurs — which tells you a bit of bit how they’re over their skis,” Lehane stated. “However that runs an enormous danger of [the government] not approaching this strategically.”