At the recent OECD Global Financial Markets Roundtable in Paris, SEC Chair Paul S. Atkins made a statement aimed at changing the perspective on crypto regulation in the U.S.
Redefining the Status of Crypto
In his speech, Atkins emphasized that most cryptocurrency tokens are not securities. He stated that the SEC will establish clear boundaries and provide entrepreneurs the opportunity to raise funds without legal ambiguity. This stance could open new pathways for compliance in fundraising and build investor confidence, potentially reshaping the crypto industry.
Project Crypto: Modernizing the Regulatory Framework
Atkins also introduced Project Crypto, an initiative aimed at comprehensively modernizing the regulatory framework. The project's goals include creating a unified base for managing trading, lending, and related services, which could lead to more efficient integration of financial services.
AI and Blockchain in Finance
One of the key highlights was the merging of artificial intelligence and blockchain. Atkins presented the concept of an 'agency finance', which will use AI for automating financial processes while ensuring transparency and compliance through blockchain technology.
Atkins' speech signals the beginning of a new era for cryptocurrencies in the U.S. Transparent rules, technological integration, and cooperation with international regulators could position America as a hub for crypto innovation.
