Change Won't Happen With Chairman Clayton Around: Kristin Smith

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Kristin Smith, director of external affairs at the Blockchain Association.

Kristin Smith is director of external affairs for the Blockchain Association.

Because of Libra, Congress has really shifted their concern and is engaged in figuring out how they can take the lead. We need a Congress that wants to make sure that the U.S. continues to be strong, and that the dollar continues to be strong.

How do we not necessarily resist, with the exception of FEMA, visit Congress like, But how do we embrace the technology in a way that still meets public policy goals.

To some extent, Kik's ongoing legal fight with the SEC is less about whether Kin is deemed a security, but rather how Ted Livingston [CEO of Kik] and the company address combative regulators.

Does the Blockchain Association have a view on how Kik is challenging securities law?

It's really difficult and confusing to know how and when these securities laws apply.

Similar to how ether is not a security today, though it may have been at the time of its initial sale.

It's not helpful for the SEC to look back and be like, "Well, that offering, you know, wasn't registered, that was wrong," because there's still no clear pathway on how to get from security to commodity without having to go through that process.

As long as Chairman Clayton at the SEC is still around, I don't think we'll see a whole lot of progress at the SEC. But I do think we're going to see legislation or bills introduced.