The chairman of the Securities and Exchange Commission, Paul Atkins, called for a radical modernization of the American cryptographic asset policy, describing a three -part strategy for revolution of regulations for issuing, custody and trade.
He made the declaration during his opening speech during the last round table of the working group of the dry crypto on May 12, which covered tokenization and its potential to modernize the capital markets.
Atkins compared the transition to titles based on blockchain to the digital transformation of the music industry, arguing that the assets “in chain” could revolutionize the capital markets as well as the MP3s restart audio distribution.
The absolute priority of the SEC under Atkins will be to manufacture a “rational regulatory framework” adapted to the markets of digital assets, detaching itself from years of unpredictable application which has discouraged innovation.
He promised that the development of policies would now occur through formal channels rather than by ad hoc actions, reaffirming his recent declarations.
According to Atkins:
“It’s a new day in the dry.”
Three -component reform plan
Atkins has established an ambitious reform program focused on activating compliant cryptographic assets, the expansion of legal guard options and the modernization of commercial executives.
He noted that only a handful of projects have managed to record offers through traditional dry ways, pointing to obsolete disclosure forms and legal uncertainty as a major obstacle.
To remedy this, the regulator will examine the exemptions, safe ports and disclosure advice more suited to native digital assets. He stressed that interim personnel directives remain temporary and that the complete regulations of the commissions are necessary to establish sustainable standards.
In police custody, Atkins approved the decline in accounting bulletin No. 121 of the personnel, which had imposed a restrictive treatment of cryptographic participations. He called for a broader clarity on what is qualified as “qualified guardian” and said that childcare rules should evolve to reflect self-cuir solutions and the best emerging practices in the industry.
For trading, Atkins expressed its support to allow brokers to offer integrated services, including crypto and non -crypto assets, under unified platforms. It has also raised the possibility of an exempt conditional relief to allow new products that are not yet part of the existing rules.
Cement American leadership
Echoing the call of President Donald Trump to make America the “cryptographic capital of the planet”, Atkins warned that if the dry did not adapt, innovation would migrate offshore.
He congratulated the commissioners Mark Uyeda and Hester Peirce for having co-directed the new working group on cryptography, which aims to decompose internal silos and accelerated advice in the agency.
Throughout the address, Atkins underlined the need for rules that protect investors while supporting innovation. He stressed that the application of fraud remains a priority, but the approach of the SEC will return to its “original intention” for police violations of established obligations rather than carrying out a policy through the application.
The SEC should carry out additional regulations, staff advice and inter-institutions coordination in the coming months because it seeks to establish the United States as a leader in token financial infrastructure.
