PANews reported on March 22 that according to Cointelegraph, John Reed Stark, the former head of the Internet Enforcement Office at the SEC, refuted the ideas of regulatory reform during a cryptocurrency roundtable. He stated that the Securities Acts of 1933 and 1934 should not be modified to accommodate digital assets, and urged digital assets not to evade the definition of securities under current law. "People who buy cryptocurrencies are not collectors. We all know they are investors, and the SEC's mission is to protect investors," he believed that digital assets or cryptocurrencies have no innovation.