Beyond Fintech: Crypto moves toward clarity

The conversation builds on recent analysis from our Fintech blog, including our deep dive into the SEC–CFTC’s landmark interpretive guidance and our breakdown of the OCC’s proposed rules to implement the Genius Act, which together illustrate how regulators are moving away from an enforcement first approach and toward clearer market structure.

They discuss:

• The joint SEC–CFTC guidance and why its new taxonomy marks a shift away from enforcement first regulation
• How the Howey analysis is evolving, with the focus moving from the token itself to the circumstances of the sale
• What NASDAQ’s tokenized securities pilot signals for the future of public markets
• Why recent CFTC and OCC actions matter as Congress debates the Clarity Act

The message is clear: this isn’t the finish line—it's a credible bridge toward regulatory certainty.

Listen to the full episode to understand what this moment means for digital asset businesses, platforms, and investors navigating what comes next.