The new chairman of the US Securities and Exchange Commission (SEC) says that he prioritizes the development of new regulations for issue, detention and trade in the crypto assets.
Paul Atkins, who was sworn in as SEC chairman in April, spoke this week in the Crypto Task Force of the Commission in Tokenization.
The new chairman says that the “Legacy Rules and Regulations” of the SEC do not think about the new use cases of Blockchain technology.
“In order to make the United States the ‘Crypto Capital of the Planet’, as has in mind by President Trump, the Commission must keep the same pace with innovation and consideration whether legal changes are needed to accommodate effects on chains and other crypto-assets. Rules and regulations that are designed for off-chain effects can be de-compations and the chain effects can be de-compations and the chain effects can be de-compations and the chain effects and the chain effects and the chain effects and de-compatible and de-compatible and the compatic and de-compations and the compatic and de-chain effects growth in growth in growth.
An important priority of my chairmanship will be to develop a rational regulatory framework for crypto activ markets that set clear rules of the road for the issue, guardianship and trade of crypto assets, while they continue to discourage bad actors from breaking the law. “
In terms of issue, Atkins says that he will instruct SEC officials to prepare “clear and sensible guidelines” for benefits of crypto assets that are effects or are subject to an investment contract.
“I have asked the committee staff to consider whether additional guidelines, registration -exemptions and safe ports are needed to create routes for issues of Crypto activa within the United States. I believe that the committee has ample discretion among the securities laws to house the crypto industry, and I intend to get it for each other.”
He also wants to offer “greater optionality” in terms of the custody of Crypto.
“It is important to provide clarity about the types of preservators who are eligible as a ‘qualified custodian’ among the Advisers Act and Investment Company Act, as well as reasonable exceptions to the qualified custody requirements to offer certain common practices within Crypto-assist-markets for the market in the market. Founding rules must be updated under certain conditions. Let it go. “
Moreover, the new SEC chairman says that he supports Broker dealers who want to offer trade in securities and non-security trade and other financial services in the same app.
“Nothing in the federal securities laws prohibits registered brokerage dealers with an alternative trading system to facilitate the trade in non-professors, including through ‘couples acting between effects and non-security. I have asked staff to help us think of the ATS (Alternative Trading System) regime.”
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