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ARTICLE · 12 JUNE 2024

Recent Developments In Digital Assets Policy

Braumiller Group (Dallas)
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Digital assets, including blockchain and cryptocurrency protocols and companies, have been in a defensive posture for much of 2022, 2023 and 2024.

United StatesTechnology
James Holbein
James Holbein
Justin Holbein
Justin Holbein
Author LinkedIn connections

INTRODUCTION

Digital assets, including blockchain and cryptocurrency protocols and companies, have been in a defensive posture for much of 2022, 2023 and 2024. The collapse of crypto exchange FTX and numerous enforcement actions taken by the Securities Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) have forced the sector to retrench and upgrade their abilities to meet the higher standards of securities laws. The SEC was forced by the courts to approve spot Bitcoin Exchange Traded Funds (ETFs) in January. On May 22, The House passed a major piece of legislation, the Financial Innovation and Technology for the 21st Century (FIT21) bill to provide clear rules for the digital assets sector. In a surprise ruling, the SEC also approved spot Ethereum ETFs on May 23. This article examines the ETF approvals and FIT21 as steps towards providing a clear regulatory framework in the US that can help in developing legitimate business uses of digital

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