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Circle CEO Says More Regulatory Clarity From US SEC Will Help Unlock Crypto Markets | | Cryptocurrency news. Breaking news on cryptocurrency.
The CEO of Circle says the biggest regulatory hurdle facing the industry today is the lack of clarity over crypto and securities laws. CEO and co-founder of Goldman Sachs-backed crypto finance company Circle has said the biggest regulatory hurdle facing crypto today is the lack of clarity from the United States securities regulator over how to define various crypto assets.Jeremy Allaire made his remarks in an AMA reddit thread he initiated on Jan. 10 together with Circle co-founder Sean Neville and other representatives from the firm.In response to a question over Circle's efforts to educate regulators like the Securities and Exchange Commission (SEC) about the crypto industry, as well as specific challenges the company faces, Allaire wrote:"The biggest and most immediate regulatory hurdle we face is the lack of specific guidance from the SEC on how to classify various crypto assets. We believe many are clearly currencies and commodities, and there needs to be more specificity on what