During the Wyoming Blockchain Symposium, SEC Chairman Paul Atkins outlined a new regulatory strategy for cryptocurrencies, differing from the previous administration.
Modernizing Cryptocurrency Regulation
According to Atkins, only a "very small number" of crypto assets can be classified as securities. "The token itself is not a security, and probably not. In my opinion, very few tokens are securities."
New SEC Position Under Atkins
Atkins emphasized that the key factor is how the token is packaged and presented to investors. "A new era has begun for the crypto industry. We are committed to innovation, and we now want to embrace it."
Discussion on Project Crypto Initiative
The Project Crypto initiative launched by the SEC aims to modernize securities laws and transition American financial markets to the digital domain. Analysts have positively assessed the initiative, with Bernstein describing it as "the boldest and most transformative vision ever put forth by an SEC chairman."
Paul Atkins continues to shift the SEC’s approach to cryptocurrency regulation, emphasizing the necessity of supporting innovation and establishing a safe legislative framework for the market.
