PANews reported on March 22 that according to Cointelegraph, John Reed Stark, former director of the U.S. SEC's Office of Internet Enforcement, refuted the idea of regulatory reform at a cryptocurrency roundtable. He said that the Securities Act of 1933 and 1934 should not be amended to accommodate digital assets, and urged digital assets not to escape the definition of securities under existing laws. "People who buy cryptocurrencies are not collectors. We all know that they are investors, and the SEC's mission is to protect investors," he believes that there is nothing innovative about digital assets or cryptocurrencies.