The US SEC cryptocurrency task force met with MV Global, Paid Network, and others to discuss digital asset regulation

The Securities Exchange Commission (SEC) Cryptocurrency Task Force released a working memorandum, revealing that it held a meeting on April 28 with representatives of MV Global Services LLC, Paid Network, and Ashbury Legal PC to discuss issues related to digital asset regulation. The meeting focused on securities identification of digital assets, market access for retail investors, and Paid Network's business expansion plans in the United States. MV Global emphasized that the current regulatory uncertainty in the United States has led to startups being registered in jurisdictions such as Singapore, Switzerland, and the Cayman Islands, which may undermine the United States' leadership in blockchain innovation. In addition, current qualified investor rules limit retail investors' access to early-stage projects, and onerous KYC/AML compliance requirements also burden startups with limited resources. Therefore, the SEC is called upon to promote a clearer regulatory framework to support U.S. competitiveness and innovation in the digital asset space.