Paul Atkins, nominated for the SEC Chairmanship, emphasized the need to end regulatory uncertainty in cryptocurrency.
A New Era for Cryptocurrency Regulation
During the U.S. Senate hearing, Paul Atkins confirmed that cryptocurrency regulation would be a primary focus for 2025. Atkins emphasized that a constructive approach would allow for sector representatives and users to be heard, replacing previous rigidity with transparency and dialogue.
South Carolina Withdraws Coinbase Lawsuit
On the same day as the Senate hearing, the state of South Carolina withdrew its lawsuit against Coinbase concerning their staking services. This move was welcomed by sector representatives who see staking services as crucial, especially with clear rules for users.
Need for Clear Rules for Cryptocurrency Owners
The number of cryptocurrency owners in the U.S. is estimated to be around 52 million, with a need for reliable consumer protection and clear regulations. Sector representatives believe existing constraints should not be ignored, and there's a need for consistent development of regulatory frameworks.
The changes proposed by Atkins in the approach to cryptocurrency regulation could significantly transform the financial sector, strengthening U.S. leadership in the global market.
