Former chair of the CFTC, Timothy Massad, has stated that the recent SEC v. Ripple court ruling may impact the way businesses and lawmakers address crypto. However, he maintains his call for regulatory clarity.
Massad argues that the ruling doesn't necessarily limit the scope of the Howie test, which is the standard by which the SEC identifies a security.
He proposes that the SEC and CFTC work together to develop standards on crypto aimed at providing investor and market protection, either directly or through a self-regulatory organization.
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