Exodus software wallet is an example of how SEC reforms could impact industry firms.
Exodus executives were available to answer my questions. The company’s public listing had been delayed since May.
Exodus’ CEO JP Richardson was not happy with the delay. He said in a press release that the company isn’t ready to wait. “surprised and confused by this last-minute decision,” It was given that “fully transparent and responsive ” SEC is there for you at every step.
Elliot Chun – a Partner at Architect Partners – blamed SEC’s inaction. “no framework and attack every crypto company enforcement strategy.”
A spokesperson for the SEC said that it does not make comments on specific companies.
Richardson stated on X, that he told Donald Trump the story of Exodus. Veronica McGregor was the legal head of the firm I spoke to in August. She had been involved with the Crypto4Harris effort.
McGregor said to me that she was looking forward to the next administration after her election. “there is zero reason for crypto to be a partisan issue.”
Although it may be a long time before legislation is passed, changing leadership and the focus of regulators (and this should happen) can, and must, be accomplished more quickly.
“Our top priority is making sure there is a dramatic shift in attitude and approach by regulators such as the SEC,” She added. “The ongoing theme of trying to cram new technology and business models into ancient legal and regulatory frameworks is not merely unproductive, it is also especially detrimental to business and innovation.”
According to a spokesperson, Exodus is waiting for the SEC to take the next step in the process of listing on public markets.
Richardson admitted that SEC reforms will not happen immediately, even if Trump is elected president.
“He noted that: “I’d expect his administration to start laying the groundwork within the first year, bringing in the right experts and setting a regulatory foundation that aligns with his campaign promises.”
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