Robinhood, Michael Saylor, & SEC Task Force Talk Crypto Policies

The SEC Task Force is doubling down on their information gathering, as it recently held a meeting with Strategy founder Michael Saylor and Robinhood Markets, with the topic of crypto regulation tenets at the forefront. Saylor provided supporting documents outlining his approach to regulation, which were discussed with SEC officials. Reports indicated that Saylor and the SEC Task Force’s meeting focused on a proposed framework for digital assets.

Namely, Saylor’s framework suggests focusing on establishing a clear taxonomy, legitimacy through rights and responsibilities, and practical compliance to promote innovation. Moreover, Saylor’s meeting with the SEC Task Force emphasized the opportunity for the United States to lead the global digital economy, unlock trillions in value, and strengthen the US dollar through strategic policies.

Meanwhile, representatives from Robinhood Markets also had a meeting with the SEC Task Force. Members from Robinhood offered insights pertaining to improving crypto regulation, stressing the need for clearer rules regarding registration, anti-fraud protections, and custody.

SEC Task Force More Lenient with Crypto Cases

It is also worth noting that Robinhood’s meeting with the SEC Task Force happened a couple of days before the SEC ended its investigation into the platform’s crypto services. During their meeting, the SEC informed Robinhood that they will not pursue any more enforcement actions regarding its crypto activity.

Both meetings with Saylor and Robinhood Markets exemplify the SEC’s renewed efforts to shift from a “regulation by enforcement” approach when it comes to dealing with crypto-related issues, which parts of the crypto industry have been critical with. 

Given that the Task Force is more crypto-friendly thanks to its members, it has also dropped several high-profile cases, including those against Coinbase and OpenSea.

What Does This Mean for Crypto Casinos? 

With the SEC Task Force working with various heavy hitters in the crypto industry in formulating the right framework for digital assets which will hopefully become law, it can be deduced that for the North American iGaming market, once the framework has been finalized, it bodes well for crypto casinos.

As crypto casinos are becoming more ubiquitous, it is only a matter of time until they become regulated. In essence, it will help players have a more secure environment that allows them to maximize their cryptocurrency while playing their favorite online casino games.