Chairman of the U.S. Securities and Exchange Commission (SEC) Paul Atkins announced changes to cryptocurrency regulation aimed at creating a safer and more consistent regulatory environment.
A New Era in Cryptocurrency Regulation
Atkins, appointed by President Donald Trump, shared his vision at the SEC's fourth cryptocurrency working group meeting. "A new day has begun at the SEC," he noted, emphasizing that regulatory policies will no longer be shaped by random lawsuits and sanctions.
Plans for Developing New Guidelines
Atkins mentioned his intention to draft guidelines to determine whether crypto assets are securities or "subject to investment contracts." He criticized the previous administration for not adequately engaging in the regulation of technology.
Conditions for Market Innovations
The new chairman pointed out the possibility of updating custody rules. Under certain conditions, funds and advisors may be allowed to self-custody their assets. Conditional exemptions for those wanting to introduce new products and services to the market will also be evaluated.
The changes proposed by Paul Atkins could significantly impact the evolution of the cryptocurrency sector in the U.S., creating clearer and more flexible regulatory conditions.
