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Crypto industry is not experiencing regulatory capture — Attorney

Brandon Ferrick, general counsel at Douro Labs, said that the Securities and Exchange Commission’s (SEC) openness to public input on crypto policy and their roundtable discussions are positive signs that the crypto industry is not currently experiencing regulatory capture.

In an interview with Cointelegraph, Ferrick identified signs of regulatory capture including, a public-to-private sector revolving door of employees, the same roster of attendees at regulatory events, and special treatment given to certain crypto projects. However, Ferrick added:

“The reason why I am not worried today is that a lot of what you’re seeing from the regulatory side, like the SEC, for example, is totally open, public, and there are available opportunities to have conversations with the regulators about changing or thinking about the regulatory structures.”

“[The SEC] has a public portal where you can just submit written commentary on your thoughts for the crypto regulatory environment, and you can schedule meetings with them,” the attorney continued.

Crypto industry is not experiencing regulatory capture — Attorney
Crypto Industry executives and panelists discuss cohesive crypto regulation at the SEC’s first crypto roundtable in March 2025. Source: SEC

As the crypto industry becomes more integrated with the traditional financial system and engages state regulators more, some analysts and executives are worried that the industry is experiencing regulatory capture that will skew incentives and politicize the burgeoning crypto sector.

Related: SEC staff gives guidance on how securities laws could apply to crypto

SEC hosts several roundtable discussions on crypto policy

The SEC has hosted several crypto roundtable discussions and panels, with more slated in the coming months — a sharp contrast from the agency’s regulation-by-enforcement approach under former SEC chairman Gary Gensler.

On March 21, the regulatory agency hosted its first crypto roundtable, which featured crypto industry executives, SEC officials, and even opponents of the crypto industry.

Former SEC official John Reed Stark was highly critical of the industry and opposed comprehensive regulatory reform, arguing that digital assets must comply with existing securities laws.

Crypto industry is not experiencing regulatory capture — Attorney
Former SEC official John Reed Stark addresses the SEC’s March 2025 crypto roundtable. Source: SEC

The SEC’s April 11 roundtable focused on trading rules and included a different set of panelists, including representatives from Uniswap and Coinbase.

The next SEC panel will occur on April 25 and focus on establishing guidelines for crypto custodians and other firms holding crypto on behalf of customers.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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Crypto’s path to legitimacy runs through the CARF regulation

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Crypto’s path to legitimacy runs through the CARF regulation

Crypto’s path to legitimacy runs through the CARF regulation

The CARF regulation, which brings crypto under global tax reporting standards akin to traditional finance, marks a crucial turning point.

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Tokenized equity still in regulatory grey zone — Attorneys

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Tokenized equity still in regulatory grey zone — Attorneys

Tokenized equity still in regulatory grey zone — Attorneys

The nascent real-world tokenized assets track prices but do not provide investors the same legal rights as holding the underlying instruments.

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

Rachel Reeves has hinted that taxes are likely to be raised this autumn after a major U-turn on the government’s controversial welfare bill.

Sir Keir Starmer’s Universal Credit and Personal Independent Payment Bill passed through the House of Commons on Tuesday after multiple concessions and threats of a major rebellion.

MPs ended up voting for only one part of the plan: a cut to universal credit (UC) sickness benefits for new claimants from £97 a week to £50 from 2026/7.

Initially aimed at saving £5.5bn, it now leaves the government with an estimated £5.5bn black hole – close to breaching Ms Reeves’s fiscal rules set out last year.

Read more:
Yet another fiscal ‘black hole’? Here’s why this one matters

Success or failure: One year of Keir in nine charts

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Rachel Reeves’s fiscal dilemma

In an interview with The Guardian, the chancellor did not rule out tax rises later in the year, saying there were “costs” to watering down the welfare bill.

“I’m not going to [rule out tax rises], because it would be irresponsible for a chancellor to do that,” Ms Reeves told the outlet.

More on Rachel Reeves

“We took the decisions last year to draw a line under unfunded commitments and economic mismanagement.

“So we’ll never have to do something like that again. But there are costs to what happened.”

Meanwhile, The Times reported that, ahead of the Commons vote on the welfare bill, Ms Reeves told cabinet ministers the decision to offer concessions would mean taxes would have to be raised.

The outlet reported that the chancellor said the tax rises would be smaller than those announced in the 2024 budget, but that she is expected to have to raise tens of billions more.

It comes after Ms Reeves said she was “totally” up to continuing as chancellor after appearing tearful at Prime Minister’s Questions.

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Why was the chancellor crying at PMQs?

Criticising Sir Keir for the U-turns on benefit reform during PMQs, Conservative leader Kemi Badenoch said the chancellor looked “absolutely miserable”, and questioned whether she would remain in post until the next election.

Sir Keir did not explicitly say that she would, and Ms Badenoch interjected to say: “How awful for the chancellor that he couldn’t confirm that she would stay in place.”

In her first comments after the incident, Ms Reeves said she was having a “tough day” before adding: “People saw I was upset, but that was yesterday.

“Today’s a new day and I’m just cracking on with the job.”

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Reeves is ‘totally’ up for the job

Sir Keir also told Sky News’ political editor Beth Rigby on Thursday that he “didn’t appreciate” that Ms Reeves was crying in the Commons.

“In PMQs, it is bang, bang, bang,” he said. “That’s what it was yesterday.

“And therefore, I was probably the last to appreciate anything else going on in the chamber, and that’s just a straightforward human explanation, common sense explanation.”

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