The president of the SEC, Paul Atkins, has shown a change in the agency's approach to the regulation of cryptocurrencies. During his opening remarks at the third round table of the working group on the Crypto de la SEC, he said that “innovation has been stifled for several years due to the uncertainty of the market and the regulation which, unfortunately, the SEC has favored.”
Paul Atkins shares his vision of cryptography regulations
Speaking just four days from her mandate as president of the dry during her very first round dry table in dry crypto, Atkins expressed her eagerness to tackle the “long purnical problems such as the regulatory treatment of digital assets and distributed major book technologies” in collaboration with commissioners' colleagues, staff and thanks to external contributions from participants to industry. The Round Table specifically discussed the challenges of the SEC registered are confronted when they try to hold cryptographic assets for customers in accordance with federal securities laws.
Right in: 🇺🇸 Opening remarks and first public address of the new president of the SEC, Paul S. Atkins, at the round table of the Crypto Task Force – know your goalkeeper: Key considerations for the guard of cryptography. ▶ ️👇🏼 pic.twitter.com/mabcjojcyq
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In his addressPresident Atkins shared a vision of the establishment of what he called a “rational framework adjusted to the perception of cryptographic assets”. This approach is a major change compared to the previous regulatory position of the dry under the old leadership.
Atkins specifically congratulated the Commissioner Hester Peirce, widely known as “Crypto Maman”, for his “advocacy in principle and tireless for common sense crypto policy in the United States”. He said Peirce is “certainly the right person to direct the effort to find a rational regulatory framework for cryptographic assets on their markets”.
The president expressed his optimism as to the potential advantages of Blockchain technology. He said: “I expect enormous advantages of this market innovation in terms of efficiency, cost reduction, transparency and risk attenuation.”
Atkins has also asked whether the current special-used broker model benefits the market participants or if it needs a new model for Crypto Asseaurs brokers. According to him, the market itself seems to suggest that the current structure negatively requires attention. He refers to the possibility that the dry under his mandate could have collaborated more with the cryptography sector. His statement comes four days after taking oath as president of the dry.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with almost 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, notably Watchuru, Beincrypto, Milkroad, and the author of more than 10,000 articles
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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