I’m Not Sure the SEC Is Going to Be Successful,’ Says a Professor at the University of Sussex – Coinpedia Fintech News

Carol Alexander, professor at the University of Sussex, believes that the classification of cryptocurrencies as securities by the Securities and Exchange Commission (SEC) will play a significant role in shaping the industry. According to her, several firms are discussing the possibility of relocating, including Coinbase. 

This ongoing SEC case will determine whether some of the 67 crypto assets can be classified as securities. In an interview with CNBC, she explained that to effectively regulate this unique asset class, we need to establish a new category separate from equities, bonds, or commodities—a category specifically tailored to cryptocurrencies. 

Once this classification is in place, we can expect more comprehensive and appropriate regulation. Perhaps an international governing body like the Basel Committee on Banking Supervision (BCBS) could play a role in establishing necessary regulations.

She said, “I’m not sure the SEC is going to be successful. Binance has very deep pockets and I’m not sure about SEC funding. After all, it comes from traditional finance and equity firms.”

Carol added, “We must have crypto. We cannot have a digital economy without blockchain. There can be no blockchain without crypto. Therefore, it should be properly regulated. Then we will have only a few bad players.”

Regarding the SEC’s actions, she feels that they are attempting to assert their jurisdiction over the crypto landscape. However, the outcome of their efforts remains uncertain. 

The professor concluded by saying, “There are bad players everywhere, not to say that there aren’t bad players in other markets, but the number of bad players in crypto today is not what crypto will be in the future. We must have crypto; we can’t have the digital economy without blockchain. We can’t have a blockchain without crypto, so it must be regulated properly.”

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