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SEC Regional Director Erin Schneider talks SPACs, Coinbase, and what startups could do better – TechCrunch

Startup I was looking for details on cryptocurrency lending, new rules that blank check companies might have to follow, or whether the SEC considers NFTs (non-fungible tokens) to be securities, but this week in the region Nothing was gained from Erin Schneider Director of SEC’s powerful San Francisco office.

While speaking at TechCrunch Disrupt 2021, Schneider — the team has helped narrow down reconciliations from Theranos, Elon Musk, and more recently app analyst App Annie — what she can say is limited. I made it clear from the beginning.

However, she shared insights into her personal thoughts on the scope of these issues. Given her position, it seems very worth listening to (see the full interview with Schneider below).

To get started, I asked Schneider about Coinbase. Currently shelved Why crypto lending products and crypto lending company BlockFi have been working with state regulators hoping to stop offering their own interest-bearing products (SEC — federal agency — Kibosh on Coinbase’s plans I put it).

Schneider said startups should be expected to comply with both federal and state regulations. These can vary widely from state to state. But she also used the question to answer the question. Can financial products like Coinbase’s proposed offerings confuse consumers? Her answer to this was, of course, clearly positive.

I’ve seen companies that have started making phone calls over the last few years [themselves] It’s very destructive, but features are beginning to be added that are very similar to traditional financial structures, especially in such situations, where the risk of investor turmoil increases. [So] I think there is potential for investor risk and investor turmoil, so every administration is very meticulous about how these companies promote their products and the administrations they follow through state or federal governments. To find out.

SEC Regional Director Erin Schneider talks SPACs, Coinbase, and what startups could do better – TechCrunch Source link SEC Regional Director Erin Schneider talks SPACs, Coinbase, and what startups could do better – TechCrunch

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