H. Rodgin Cohen, the dean of Wall Street lawyers, says it’s just a matter of time until U.S. regulators launch a sweeping response to bitcoin.We've already mentioned one of the cases the SEC will be relying on for regs on offerings, the damn beavers, (dam beavers?) in September's "What Is A Security? The SEC and ICO's, Crypto, the Weaver's Beaver Case and Rule 10B-5".
As global banks increasingly help investors bet on virtual currencies, federal authorities will develop a joint strategy for policing the burgeoning market, Cohen predicted in an interview. It would make sense for the Financial Stability Oversight Council -- a group of regulators led by the Treasury Department -- to take the lead, he said.
“Cryptocurrencies create so many issues that no one agency can be legitimately expected to deal with them, and FSOC would be an ideal place to bring the agencies together,” said Cohen, 73. “The objective is to make sure there’s a focused regulatory approach and understanding of the positives and negatives of cryptocurrencies.”
Cohen, who’s played a key role in responding several major banking crises, advises many of the biggest firms in part because of his experience predicting Washington’s actions.....MORE
I suppose I should put something together on Howey pretty soon as well.
