It is the start of a new crypto era for the US Securities and Exchange Commission (SEC).
New SEC chairman Paul Atkins, who was sworn in this week, spoke on Friday in the third “Crypto Task Force” of the regulator and spoke the potential of digital assets.
He also damaged the previous regulatory approach to the SEC to the sector.
“This is important work, because entrepreneurs in the United States use blockchain technology to modernize aspects of our financial system. I expect enormous benefits of this market innovation for efficiency, cost reduction, transparency and risk limit and market participants who go with this technology, clearly regulating regulation.
His language is a stark contrast to the approach to previous chairman Gary Gsler, who supervised controversial enforcement actions against numerous crypto companies, including industrial giants Binance, Kraken, Coinbase, Ripple Labs, Uniswap Labs and Consensys. All those cases have been closed since Gensler resigned.
Atkins also asked for crypto interested people on Friday for input about the challenges of existing securities laws.
“For example, are changes needed to the custody rules under the Exchange Act, Advisers Act of Investment Company Act to house to house crypto-assets and blockchain technology? Is the ‘Special Purpose Broker dealer’ regime ‘regime’ regime actor-fee-mate-dealer-mame-dealer-lazelaar dealer-lame-deal-me-part Give the current framework attention.
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