Eric Conner, a leading Ethereum figure that helped design the overhaul of the EIP-1559 network fees and recently left the ecosystem to work in artificial intelligence, said Thursday late Thursday that the new political orientation of the Securities and Exchange Commission was made to a spectacular back wind for Ether. “The Sec has just turned on a rocket under Ethereum,” wrote Conner on July 31, reacting to a political address pronounced for hours earlier by the president of the Sec, Paul S. Atkins, in Washington. Conner characterized remarks as a “full -fledged regulatory pivot”, adding that ATKINS “said informally but undoubtedly Ethereum is not security” and that the agency had put ETH “in the spotlight as the foundation of the next era of American finance”.
Is Ethereum the largest beneficiary of “Project Crypto”?
The prepared speech of Atkins, entitled “American Leadership in the Digital Finance Revolution”, unveiled a program that he called Project Crypto – an effort on the scale of the Commission to renovate the regulations of securities for the chain markets. “We are at the threshold of a new era … I announce the launch of` `Crypto ‘Project’ ‘-an initiative on the scale of the Commission to modernize the rules and regulations of securities to allow America’s financial markets to move to the chain,” he said, stressing that his remarks reflected his opinions rather than the commission as a whole. The president equaled the initiative to a recent push of politics led by the White House and declared that he had ordered the staff of the dry to write clear rules for distributions, custody and trade in assets of crypto, and to consider interpretative and exempt assistance “in the coming months” to avoid suffocating innovation.
The most consecutive signal for digital asset markets was Atkins’ position on the asset classification. “Despite what the SEC has said in the past, most cryptographic assets are not titles,” he said, promising “luminous line rules” to help market participants to determine whether a token must be treated as a digital collection, digital merchandise or stablecoin, and for ICOS, drops for ends for end in parallel, “Should not be a scarlet letter” and described a path for the crypto-security to flourish in the American markets.
Atkins also sketched an ambitious market structure plan. He supported trading side by side of non-security cryptographic assets and crypto-active titles on places regulated by the SEC, propelled a concept of “rego super-app” to allow brokers to propose negotiations, punctures and loans under a single license, and said that he would seek to modernize the rules of care so that the investment advisers and Crypto assets under updated standards. “It will be a priority for my presidency to carry out the recommendation (of the report) to modernize the requirements of aging from the dry,” he noted, while defending user law to self-cuire and jalititude.
Especially for the tokenization, Atkins said that the Commission would work with companies distributing token titles in the United States and would grant a repair if necessary, highlighting the repressed demand “household names from Wall Street to technological companies of the unicorn” and explicitly referencing the token standards compatible as ERC-3643. In a section on decentralized finance, he undertook to “create space” for entirely chain and non -intermediate systems and intermediate models, and said that “will be part of our securities markets”.
Why Ethereum occupies the front of the stage
Although the prepared remarks of Atkins did not name Ethereum explicitly, they have repeatedly referred to the concepts and native standards Ethereum, and apart from the discourse, the president recently talked more directly of ETH. In an appearance of July 21 on the Squawk box of CNBC, Atkins said that the agency had “indicated informally more than officially than security”, adding that if companies hold ETH in cash “depends on companies to decide”.
Conner unpacked the same themes in a thread in eight parts which turned through crypto-X. The old Dev Core argued that the speech “is not only the lip service. It is a complete regulatory pivot”, stressing that ATKINS had “informally but undoubtedly” removed the overhang of safety of the ether. “This is the clarity that the institutions were waiting for,” he wrote, predicting the benefits of the corporate treasure and a deep link between Defi and Wall Street.
He praised the approval of the tokenization of the public channel as being even more substantial: “He said: Let us bring the regulated markets to the head … Ethereum is the obvious base layer for this.” And, in an inherited doctrine stroke, Conner applauded the promise of specially designed rules: “More to try to blur the crypto in the laws of the 1940s.”
That this enthusiasm will not depend on the speed with which the cryptography of the project passes from the rhetoric will flourish in the creation of concrete rules – but, as Conner put it in his closing salvo, “ETH is no longer just a coin. It is the greatest superhang in the American government. ERA of American finance.
At the time of the press, ETH exchanged $ 3,669.
Star image created with dall.e, tradingView.com graphic
Editorial process Because the bitcoinist is centered on the supply of in -depth, precise and impartial content. We confirm strict supply standards, and each page undergoes a diligent review by our team of high -level technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
