SEC’s latest crypto rules only open a few of Wall Street’s ‘million doors’ – Bitwise CIO Matt Hougan

Bitwise CIO Matt Hougan doesn't think Washington's crypto-friendly turn is the moment that completely unlocks Wall Street.

In an interview with CryptoSlate, he described the real barrier as something far less dramatic than a single landmark bill. The “brutal real answer” is that it comes down to a million small steps, and some of them are deeply unsexy.

The SEC unveiled its Regulation Crypto Assets proposal on Aug. 18, describing a fit-for-purpose framework for certain crypto investment contracts with exemptions reaching up to $75 million over 12 months.

A day later, President Donald Trump used a White House crypto event to push the CLARITY Act. He said CFTC Chair Mike Selig was working to bring Hyperliquid into the U.S. in a fully compliant, legal way.

A good week for crypto that is only the start

Hougan called this stretch a good week, pointing to the SEC proposal, the Hyperliquid comments, and a Financial Accounting Standards Board proposal. That FASB project could clarify whether certain stablecoins qualify as cash equivalents.

… Continue reading the full article at the original source below.