Former SEC official John Reed Stark opposed regulatory reform at the encryption roundtable meeting.

[Former SEC Official John Reed Stark Opposes Regulatory Reform at Crypto Roundtable] At the first crypto industry roundtable held by the U.S. Securities and Exchange Commission (SEC), former SEC Director of the Division of Enforcement John Reed Stark strongly opposed amending existing securities regulations for digital assets. He stated that the Securities Act of 1933 and 1934 should not make concessions for Crypto Assets, and digital assets should continue to be regarded as securities. "Those who buy Crypto Assets are not collectors; they are investors. The SEC's duty is to protect investors," Stark stated. He pointed out that crypto companies hire top global law firms in an attempt to delay the enforcement process, but they have lost in nearly all cases. Stark also claimed that, compared to past technological revolutions like the iPhone, he has not seen any real innovation in digital assets. For a long time, Stark has been a staunch critic of the crypto industry, supporting former SEC Chairman Gensler's "enforcement-based regulation" and insisting that the crypto industry must comply with existing laws rather than asking for laws to make way for it.