The Markets in Crypto Assets (MiCA) Crypto Alliance, a group established to help organizations looking to implement the EU framework on digital assets, largely supported the SEC’s proposed changes to disclosure requirements. The alliance recommended specific amendments to have the SEC better define “concepts and data structures specific to crypto assets and the disclosure requirements.”
Others, including SkyBridge Capital founder Anthony Scaramucci, said they would support the SEC’s proposed crypto rules. Scaramucci said the digital asset regulations responded to “organic adoption” and “represent a return to the Commission’s proper role” without citing inaction from Congress on the Digital Asset Market Clarity (CLARITY) Act. Six people submitted comments anonymously.
While many public comments praised the SEC’s efforts to advance crypto regulation or said they would be open to further discussion, some legal experts suggest the rules could be more easily overturned than an act of Congress. Both financial agencies overseeing aspects of the crypto industry, the SEC and the Commodity Futures Trading Commission, are also still understaffed at the leadership level.