SEC Chair Paul Atkins announced the launch of a new group focused on developing rules for cryptocurrency. This announcement was made at the Wyoming Blockchain Symposium.
Formation of the Group for Crypto Regulations
Atkins explained that the group's first task would be to implement the recommendations from the President’s Digital Asset Markets Working Group, underlining that the project is a significant part of the bigger plan for digital assets.
President's Plan and SEC Initiatives
The President’s Digital Assets Working Group released a policy roadmap in July, calling for regulations that ease the burden on crypto businesses while maintaining investor protections. Atkins indicated that the SEC will follow this roadmap to minimize conflicting voices.
Industry Response to Regulatory Changes
Atkins mentioned that the SEC is open to feedback from the industry, emphasizing that changes in its approach can occur only in conjunction with legislative initiatives. He added that enforcement should focus on fraud.
The creation of the group for crypto regulations could represent a significant step forward in providing clarity to the regulatory environment for the cryptocurrency industry in the US.
