As a trailblazer in navigating the complex terrain of crypto regulations, Bosonic emerges as a leading force in the industry. Founder Rosario Ingargiola's foresight in securing regulatory approvals for trading digital assets—especially those classified as securities—stands as a testament to the company's commitment to compliance and innovation. Bosonic's proactive approach challenges industry giants to prioritize regulatory alignment over mere public discourse, setting a precedent for responsible engagement in the evolving crypto landscape.

“Lack of regulatory clarity” is the catchall complaint levied against U.S. regulators by most major players in the crypto industry. But the founders of Bosonic and Prometheum disagree. Both firms have spent years chasing the necessary regulatory approvals to compliantly trade digital assets, including those seen as securities. Last week, Prometheum secured a potentially landmark approval to operate as a special purpose broker-dealer for digital asset securities. Prometheum co-founder Aaron Kaplan and Rosario Ingargiola, founder of Bosonic, which earlier secured a similar approval, discuss why big players like Coinbase need to quit carping in the court of public opinion and do the hard work of getting approved.

Show highlights

What Bosonic and Prometheum Capital do

How Aaron and Rosario started working in crypto

What it means to be a special purpose broker-dealer

What the three-step letter from the SEC is and why it’s relevant for scaling a digital asset business

How exchanges work in traditional finance and how crypto differs

Why Aaron believes there’s a “pathway forward for crypto in the U.S.”

Whether the argument that there’s a lack of regulatory clarity is convenient for crypto incumbents

Why Aaron agrees with SEC Chair Gary Gensler on his stance that everything except BTC is a security

How a token registration would work and what the nuances would be

Why Coinbase’s approval to be a publicly traded company does not mean that the SEC is in line with the business

Whether ETH is a security, with Aaron arguing it is and Rosario saying it’s a commodity

What the different requirements are for national securities exchanges and alternative trading systems

What Aaron and Rosario would tell existing crypto companies as it relates to compliance

Whether regulation kills innovation

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