Unchained Hester Peirce's Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF - Ep.356
May 27, 2022
Coy Garrison, a partner at Steptoe & Johnson and former counsel to SEC Commissioner Hester Peirce, dives into the evolving landscape of crypto regulation. He shares insights on his journey with the SEC and discusses how recent comments from Chair Gary Gensler give him hope for a more constructive regulatory approach. Coy addresses the implications of stablecoin regulation, the debate over Bitcoin spot ETFs versus futures ETFs, and critiques around the SEC's stance on decentralization and commodities, shedding light on the industry's future.
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Garrison's Crypto Journey
- Coy Garrison's crypto journey began in 2014 when he was tasked with reviewing the Winklevoss Bitcoin Trust filing.
- He later worked on Director Hinman's ETH speech and advised Commissioner Peirce on crypto matters.
Leaving the SEC
- Garrison left the SEC due to the pivotal moment in crypto regulation.
- He wants to advise clients on navigating the evolving regulatory landscape.
Current State of Crypto Regulation
- The SEC's stance on crypto is tense, with Chair Gensler advocating for platform registration and classifying most tokens as securities.
- However, most platforms and tokens remain unregistered, creating a difference of opinion.