#203 - How the SEC Writes Crypto Rules

<p>How do regulators actually write the rules for crypto? SEC Commissioner Hester Peirce and Taylor Lindman, Chief Counsel of the SEC's Crypto Task Force, take us inside the process, recorded at the SEC offices in Washington, D.C.</p><p>We cover CLARITY Act rulemaking, lessons from Dodd-Frank, principles-based regulation and navigating the risks of decentralized projects. If you want to understand how an agency like the SEC actually works, this episode is for you.</p><p>Timestamps:</p><p>0:00 Intro</p><p>1:20 Commissioner Peirce's philosophy on capital markets</p><p>5:04 Rulemaking at the SEC</p><p>6:48 The SEC's divisions, explained</p><p>8:27 How the Crypto Task Force is staffed</p><p>10:37 Lessons from Dodd-Frank</p><p>13:10 Legal artisans</p><p>15:15 The Clarity Act deadlines</p><p>18:55 Decentralized intermediaries</p><p>20:56 Principles-based vs prescriptive regulation</p><p>24:49 Tackling difficult crypto questions</p><p>26:23 Leveraging AI for data review</p><p>29:46 "Come in and register" under this SEC</p><p>33:50 SEC &amp; CFTC collaboration</p><p>35:52 Re-engaging the crypto industry</p><p>40:00 Crypto Task Force &amp; the Clarity Act</p><p>45:54 The SEC's non-crypto priorities</p><p>48:41 Avoiding another regulation-by-enforcement era</p><p>57:14 Thank you to Sam Enzer, Lewis Cohen and Cahill, plus a shoutout to Day One Law and Nick Pullman</p><p>Newsletter: I'm re-launching the Law of Code newsletter soon: you can ⁠⁠⁠stay updated on emerging tech law for free here⁠⁠⁠: https://www.lawofcode.fm/</p><p>Any feedback on this episode? Or how to improve the podcast? ⁠⁠Click here: https://forms.gle/W4d2a5aHuLJjuNdn7</p><p>Disclaimer: This podcast is for informational and educational purposes only and does not constitute legal or investment advice. Views expressed by guests are their own and do not necessarily reflect those of their employers. Listening to this podcast does not create an attorney-client relationship.</p>