Fox 2 Detroit
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Former SEC regulator says the quiet part out loud: New law ‘legitimizes the Crypto industry’
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July 20, 2025
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15:36Now PlayingFormer SEC regulator Tom Shohfi told Hilary Golston the new stablecoin law “legitimizes the crypto industry.” Shohfi , who previously worked at the U.S. Securities and Exchange Commission and holds CFA, CAIA, and FRM credentials, praised the bipartisan GENIUS Act for delivering long-overdue regulatory clarity. The law requires stablecoin issuers to maintain 1:1 reserves and undergo regular public audits.
Shohfi says the move signals Washington is finally giving crypto a formal place in the financial system. His blunt assessment shared in an interview with Golston reflects a broader shift toward mainstream acceptance of digital assets, as two more crypto bills advance through Congress.
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