Under Paul Atkins' leadership, the SEC has announced a 90-day plan aimed at improving crypto industry regulations by eliminating outdated rules and fostering a transparent and trustworthy ecosystem.
Paul Atkins' Approach to Cryptocurrencies
Recognized as a pro-crypto advocate, Paul Atkins is set to lead changes within the SEC that could result in clearer and more supportive regulations for the crypto industry. He's expected to collaborate closely with Commissioners Hester Peirce and Mark Uyeda, who have criticized the current digital asset regulatory regime.
The 90-Day Plan for Change
The Token Alliance has put forward a 90-day plan to redefine how the SEC handles crypto regulations. Key suggestions include the immediate review of current crypto-related investigations and the suspension of litigation in cases not involving fraud or investor harm. The plan also stresses removing outdated rules, such as the 2019 framework and the 2018 Hinman Speech, and addressing the burden of the SAB 121 bulletin.
The Future of SEC Regulation
The success of these initiatives will rely on the SEC's closer engagement with the crypto industry. Initial positive steps have been taken with recent talks with Commissioners Peirce and Uyeda. The next 90 days are crucial to determining whether SEC can build trust and adopt a more balanced approach.
The SEC's new 90-day plan provides an opportunity to enhance its relationship with the crypto industry by implementing more transparent and modern regulations. This could mark the beginning of a new era of trust and innovation.
