Stay Informed: Essential Readings on Crypto Regulation for Investors, Developers, and Enthusiasts

After seeing the fantastic list of essential crypto regulation readings compiled by Rich Falk-Wallace , I felt compelled to write this post. The world of cryptocurrency is continually evolving, and regulations play a crucial role in shaping the industry's landscape. It can be challenging to keep up with the latest regulations, guidelines, and regulatory agencies' stances on crypto assets. Therefore, having a comprehensive list of essential readings on various aspects of crypto regulation is invaluable. Whether you are an investor, developer, or enthusiast, staying informed about crypto regulation is crucial to make informed decisions and avoid regulatory pitfalls.

First on the list is a summary of the global regulatory regimes by PWC, which provides a high-level overview of crypto regulations worldwide.

• Summary of global regulatory regimes, PWC: https://buff.ly/3WhoXIb

Baker McKenzie's crypto regs boot camp is also an excellent resource, albeit a long one, for a deep dive into the legal and regulatory aspects of crypto.

• Baker McKenzie crypto regs bootcamp (long but good): https://buff.ly/3Zn3W04

The Securities and Exchange Commission (SEC) has issued several statements on whether cryptocurrencies are securities under the 'Howey Test,' including their recent statement in 2021.

• SEC on when crypto is a “security” under ‘Howey’, SEC: https://buff.ly/2I9UBEa
• Background on Gensler’s approach to crypto, NYT: https://buff.ly/3IziS4e

It's also worth checking out the conflicting views between the SEC and the Commodity Futures Trading Commission (CFTC) on who should regulate crypto.

• CFTC vs. SEC conflict over whom to regulate crypto: https://buff.ly/3KIEON5

Reed Smith believes that the SEC is likely to be the primary regulator, while Harvard Law School takes the position that some crypto assets are securities, while others are not.

• View the SEC is likely to be the primary regulator, Reed Smith: https://buff.ly/3ZzrcYN
• View that some are securities and others are not, HLS: https://buff.ly/3iOAIXV

The views of the former SEC and CFTC chairs on regulating crypto also provide valuable insights.

• Last SEC + CFTC chairs on how to regulate crypto: https://buff.ly/3iqlNTl

For those interested in decentralized finance (DeFi), the SEC's 2021 statement on regulating DeFi is a must-read.

• SEC ‘21 statement on how to regulate DeFi: https://buff.ly/3IGlk8Z

Coinbase's article on what regulatory clarity looks like and a16z's December 2022 regulatory recommendations are also helpful.

• Coinbase on what regulatory clarity looks like: https://buff.ly/3hFZNUH
• a16z Dec ‘22 regulatory recommendations: https://buff.ly/3m6sNXk

Stablecoins have been the subject of much discussion in the regulatory world. CZ has shared his thoughts on what stablecoin regulation should look like, while CRS has explored whether stablecoins are "notes" under Reves.

• CZ on what stablecoin regulation should look like: https://buff.ly/3KPSwh4

Other essential readings include the EU's Markets in Crypto-Assets (MiCA) summary, China's 2021 regulatory document banning most crypto, and how to prepare for central bank digital currencies (CBDCs) and staking.

• EU’s Markets in Crypto-Assets (MiCA) summary: https://buff.ly/3YbA8Cc
• China’s 2021 regulatory document banning most crypto: https://buff.ly/3Zn3VJy
• How to prepare for CBDCs/stables, McKinsey: https://buff.ly/3YCgeSz

The Bank of England has explored CBDCs, while Kraken's settlement to stop liquid staking and Gensler's views on staking's implications have also been hot topics in the crypto world.

• Bank of England on exploring CBDCs: https://buff.ly/3mcLfxM
• Kraken settlement to stop liquid staking: https://buff.ly/3ID5XiX
• Gensler re: staking might imply SEC views ETH as security: https://buff.ly/3RSScyM

Finally, it's crucial to keep an eye on what's likely to happen during the US legislative session to prepare for what comes next in regulation and enforcement.

• Paxos receives SEC Wells Notice, WSJ: https://buff.ly/3xgqDqw
• Is a stablecoin a “note” under Reves? CRS: https://buff.ly/3F9b8Fp
• What’s likely to happen this US legislative session: https://buff.ly/3XA9Iee

Staying up-to-date with the latest regulations and guidelines is essential to navigating the world of cryptocurrency successfully. We hope this list of essential readings helps you stay informed and navigate the evolving crypto regulatory landscape.

The covered topics are listed below for easy reference and to provide a comprehensive overview of the essential crypto regulation reading list.

1. Overview of global regulatory regimes
2. Determining whether crypto assets are securities
3. Determining which regulatory agency should oversee crypto in the US
4. Characteristics of a clear and effective regulatory regime for crypto assets
5. Global regulatory developments, including those in Europe and China
6. Central bank digital currencies (CBDCs) and their implications
7. Staking, including liquid staking and its relationship to the Howey test
8. Regulation of stablecoins, including securities regulations
9. Upcoming regulatory and enforcement developments in the US

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