Crypto lawyer: It’s Really Hard to Navigate without Any Clear Rules

• Mike Selig said the SEC finds it hard to handle crypto without clear directions.
• The crypto lawyer believes the SEC’s action against Paxos and BUSD is an example of such challenges.
• Last week, the US SEC alleged that the BUSD was an unregistered security.

In a recent interview,  crypto lawyer Mike Selig argued that the US Securities and Exchange Commission (SEC) would find it challenging to regulate crypto without clear rules. Selig suggested that the SEC’s action against Paxos and BUSD is another example of the industry’s challenges due to the lack of clear regulations.

“It’s really hard to navigate without any clear rules,” says crypto lawyer @MikeSeligEsq.

The SEC’s move against Paxos & BUSD is another example of a long-standing adage in crypto.

Watch now: https://t.co/BQ7cXN3xJV pic.twitter.com/Z0DplTdzLp

— Laura Shin (@laurashin) February 17, 2023

Last week, the Wall Street Journal revealed that the US digital asset regulator sent a Wells Notice to Paxos Trust Co, the issuer of the Binance stablecoin, BUSD. According to Investopedia, a Wells Notice is a document to inform a company of an impending enforcement action.

Additionally, a pr…

The post Crypto lawyer: It’s Really Hard to Navigate without Any Clear Rules appeared first on Coin Edition.