Marco Santori is an attorney who previously worked at Cooley LLP as a partner. Santori left Cooley LLP in February 2018 to become the president and chief legal officer of Blockchain.com, a long-time client and well-known cryptocurrency wallet firm. Santori is well known in the legal community as the creator of the Simple Agreement for Future Tokens, a legal structure that allows initial coin offerings to comply with rules without requiring costly legal filings.
After previously representing the trade group during the New York State Department of Financial Services' BitLicense hearings, he became the chairman of the Bitcoin Foundation's regulatory relations committee in 2013. Santori was also instrumental in the development of Delaware's blockchain strategy.
Santori has been vocal about the changing regulatory landscape of blockchain and cryptocurrency enterprises during 2019. In March, Santori addressed a statement made by William Hinman, the head of the Securities and Exchange Commission's Division of Corporate Finance, who indicated that Ethereum in its current state would not qualify as a security under existing regulatory frameworks. The essential factor to consider when evaluating the weight of Hinman's statement is the difference between today's Ethereum and the network's initial launch, according to Santori.
Santori took to Twitter to analyze the proposals, claiming that these changes to one of the most difficult regulatory domains indicate a step in the right direction for crypto-asset business regulation. The New York State Department of Financial Services announced new proposals to revisit BitLicense to make it more accommodating for additional crypto assets within existing money transmission laws.