In an opening speech during the last cryptographic round table of the SEC, Paul Atkins commented on the role of the commission in cryptographic policy. He identified three main regulatory areas: the issue, the guard and the trade.
Compared to his last round appearance at the end of April, Atkins threw a insight into his ambitious cryptography program. With these priorities, it seems that the dry will really transform the cryptography policy for you.
Paul Atkins plans for the dry
Earlier in the day, the SEC organized its fourth round crypto, centered on tokenization. Its program has been a telegraph for several weeks and the Commission has published complete statements of several members.
Hester “Crypto Mom” Peirce was enthusiastic, Caroline Crenshaw showed her usual skepticism, and the president of the Sec, Paul Atkins, gave a main address:
“For the United States to be the” cryptographic capital of the planet “, as planned by President Trump, the Commission must keep the pace of innovation. The rules and regulations designed for out-of-chain titles can be incompatible with or useless for chain assets and stifle the growth in blockchain technology, “he said.
This discussion is the second round cryptographic round of Paul Atkins since he became president of the SEC. The appearance of today, however, was very different.
Although his speech in April was remarkably short, this main address was much more complete. Atkins’ comments have extended tokenization to give an overview of its global perspective on cryptographic policy.
His comments revolve around a common theme: the digital asset industry is completely different from Tradfi institutions and requires a new approach.
Atkins said that the SEC was responsible for “setting adjustment standards for market players”. To do this, he identified three areas of global interest:
First of allAtkins said that the SEC should allow cryptographic companies to explicitly issue securities contracts. The issuers have generally avoided the Howey test, and Atkins mentioned that only four cryptographic companies have currently recorded titles.
He thinks that the dry “has great discretion under acts of securities to accommodate cryptographic industryAnd intends to use it.
Secondly, Atkins wishes to order the dry to liberalize the warning rules for cryptocurrency. He plans to encourage more by reforming the requirements of “qualified guardian” and the frame of the broker.
This includes recognition of auto-custodie solutions based on blockchain and other high-tech approaches that are not currently being aligned from the point of view of the law on an active guard.
In a particularly important decision, Atkins wants the SEC to authorize more asset negotiation. This position manifests itself in several ways. It does not only plead for single companies to offer both securities and basic products; Atkins would even allow the “pairs trading” to correspond to the two categories together.
His priority is to keep the securities market in the United States, and he wants Congress to facilitate this.
In summary, Paul Atkins has very ambitious plans for the cryptographic approach to the dry. Compared to its last round appearance, today’s opening speech was practically a manifesto.
With this daring and clear leadership, it seems inevitable that the dry transforms the regulation of cryptography for the best.
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