The Securities and Exchange Commission adopted a rule to increase transparency and efficiency in the securities-lending market. Some people, like Caitlin Long, criticized the regulator for taking 15 years to come up with a solution. While the crypto market may not need to wait another 15 years, given the rapid growth of the market, it could still take some time. pple at the end of 2020.
The SEC is right to point to it as a problem in the 2008 financial crisis too—15 years later, it’s a market that REALLY needed regulator attention & apparently just got it. While this seemed like a genuine post of appreciation, it included a subtle dig about taking 15 years to come up with the solution or at least pay attention to the issue. It is true that the SEC did take 15 years to get to grips with the securities-lending market’s problems.