Ignorance is risk. For that reason, U.S. markets embrace reasonable regulation to ensure transparency and fairness.

Stocks are regulated by the Securities and Exchange Commission (SEC), commodities by the Commodity Futures Trading Commission, and government currency by the Department of the Treasury and the Federal Reserve. But an emergent fourth asset class, cryptocurrencies, has no single regulator, and that is leading to uncertainty and confusion.

The SEC and its new ”crypto czar” could take a few thoughtful steps to promote clarity and innovation in the cryptocurrency market. Ignorance may be bliss for some, but ask anyone in commerce or finance, and they will make it abundantly clear: Ignorance is risk.

For that reason, U.S. markets embrace reasonable regulation to ensure transparency and fairness. Stocks are regulated by the Securities and Exchange Commission (SEC), commodities by the Commodity Futures Trading Commission (CFTC), and government currency by the Department of the Treasury and the Federal Reserve.

But an emergent fourth asset class, cryptocurrencies, has no single regulator, and that is leading to uncertainty and confusion. In early June the SEC announced the appointment of one of the agency’s veteran attorneys, Valerie Szczepanik, as associate director of the Division of Corporation Finance and senior adviser for Digital Assets and Innovation. Read more from hbr.org…

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