Pryor Cashman Counsel Dustin Nofziger, a member of the firm's Financial Institutions Group, spoke to Law360 about cryptocurrency regulation.

In "Top SEC Controversies In 2022: Midyear Report," Dustin noted, "With crypto becoming a significant financial asset in recent years, there's naturally been more interest from regulators and Congress to wrap their arms around it and make sure the space is regulated appropriately."

In a discussion about the recent decline in cryptocurrency markets, he added, "On one hand, if the crypto market continues to decline it could take some of the air out of the sails for Congress to act...On the other hand, a continued decline could act as a countervailing force that pushes for additional regulatory clarity to protect retail investors even if cryptocurrency doesn't take over the world."

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