The new SEC chairman, Paul Atkins, has announced significant changes in the approach to cryptocurrency asset regulation in the US. The main goals of the new initiatives are to ensure a clear and predictable regulatory environment for market participants.
Change in SEC's Stance on Tokens
Paul Atkins emphasized in his speech that most crypto assets do not fall under the category of financial securities. This statement is a significant step, as previously the SEC used aggressive legal measures that adversely affected platforms like Coinbase and Ripple.
Crypto Project: A Unified Regulatory Framework
The SEC is developing an extensive reform under the label 'Project Crypto'. This project aims to consolidate trading, lending, and staking activities of digital assets into a single framework. This regulatory structure will allow crypto platforms to offer all their services under one license, which should promote their growth.
Potential for International Cooperation
Atkins also referenced the positive example of European regulatory practices, referring to the MiCA frameworks, which are seen as more consistent. He expressed a desire to establish international cooperation while emphasizing that the SEC's aim is to protect investors by minimizing bureaucratic burdens.
The changes in the SEC's approach under Paul Atkins may lead to a more predictable and less stressful regulatory environment for cryptocurrency projects in the US, which could significantly impact the market and its participants.
