Bitcoin Core Developer Joins Forces With Former Morgan Stanley Exec To Warn SEC

Several prominent leaders representing nearly every aspect of both traditional and cryptocurrency finance have jointly submitted a letter to the U.S. Securities and Exchange Commission urging the regulator to modernize its methods.

In the letter, published late last night, bitcoin core developer Bryan Bishop, former Morgan Stanley managing director Caitlin Long, e-commerce coding pioneer Chris Allen, founder of Ernst & Young’s blockchain team Angus Champion de Crespigny and fund manager attorney Gavin Fearey warned the SEC against certain types of enterprise adoption.

Long considered a boon to the cryptocurrency space, the letter argues that enterprise adoption could actually corrupt some of bitcoin’s inherent benefits if not properly overseen. Specifically, the letter warns against practices employed by the Intercontinental Exchange (ICE), which owns the New York Stock Exchange and recently announced its intention to launch a cryptocurrency exchange of…