Brief
- The president of the SEC, Paul Atkins, said on Tuesday that the agency would favor the “clear road rules” for the crypto.
- He testified that the protection of investors and innovation require regulatory clarity.
- But some legislators are pressure for the clarity law to distance the monitoring of the dry.
The chairman of the Securities and American exchange committee, Paul Atkins, continues his crusade to bring a “new day” to the dry and move the agency’s position to digital assets.
Testifying before the subcommittee Senate of financial services and the general government on Tuesday, Atkins sworn Continue a “rational regulatory framework” for cryptographic assets, prioritizing regulations and transparency on application measures.
“Clear rules on the road are necessary to protect investors against fraud-not the least to help them identify scams that do not behave with law,” he said.
“Policies will be made by advice and commentary on the regulations, and not by regulation in relation,” added Atkins.
Atkins, a dry veteran, was confirmed In April after a long and partisan application process.
His return marks a brutal gap in the approach adopted by his predecessor, Gary Gensler, whose mandate was brand By application measures against cryptographic companies and a large interpretation of the securities laws which made it unpopular to the cryptographic industry.
Since the release of peopleler, the SEC has abandoned several high -level legal proceedings, first under interim president Mark Uyeda, then under Atkins, and has published advice for several categories of crypto, including exempt Certain activities to punctuate the securities regulations.
The evolutionary posture of the agency intervenes in the middle of the growing momentum in the congress to completely strip the dry of its authority over the crypto.
Last week, the legislators presented the Clarity Act, which to modify The securities laws to exempt most of the cryptographic assets of the SEC jurisdiction and establish a new legal framework.
“Our bill ensures American domination, democratizes digital assets, unleashes innovation and protects consumers against fraud,” said the representative. Bryan Steil (R-WI), president of the Chamber’s financial services subcommittee, said at the time.
The members of the Democratic Staff of the Chamber’s Financial Services Committee have critical The dry to retain an impact analysis of the bill, which raises concerns according to which the proposal could create gaps for traditional finances under the cover of the adoption of the blockchain.
Atkins has recognized the changing legislative landscape, but highlighted the role of the new Crypto working group of the SEC and the next DEFI round table to support innovation.
“I foresee the advantages of this market innovation for efficiency, cost reduction, transparency and attenuation of risks,” he said.
Edited by Sebastian Sinclair
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