Washington, DC – The American Commission on Securities and Exchange could consider a framework for monitoring short -term cryptography to allow companies to continue innovating while the agency develops a more permanent response to the regulation of digital assets, suggested interim president Mark Uyeda during an event on Friday at the agency’s headquarters in Washington.
“We must determine whether there can be a more effective regulatory method in the context of an accommodating federal regulatory framework,” said Uyeda, in a recorded declaration played at the last round table in the agency’s cryptographic industry. “While the Commission strives to develop a long-term solution to solve these problems, an exempt exemption framework limited in time for registrants and non-inscriptions could allow greater innovation with blockchain technology in the United States in the short term.”
The securities regulator is waiting for the congress to issue a law on the structure of the cryptography market which will allow it to start writing the rules for which the digital asset sector has requested. This can happen later this year, according to the legislators working on this effort, but the months will come before his arrival and even longer for the dry and other federal agencies concerned to write regulations and start them.
During this second in a series of cryptographic round tables that the agency organized by revising its position of digital assets, Uyeda still headed the agency, although the new president, Paul Atkins, is ready to take over. Once he arrives, however, Uyeda and his colleague republican commissioner Hester Peirce, a defender of cryptography, will always be on board.
The Republican commissioners noted the interest of cryptographic platforms to manage both activities traditionally regulated by the SEC and business outside the scope of the agency, all under the same roof.
“What can we and should do in the short term, and that should consider the longer-term congress to ensure that regulatory gaps are filled while businesses are increasingly seeking to combine the negotiations of securities and non-security?” Asked Peirce, who directs the working group on the dry crypto.
The only DEMS Democratic Commissioner, Caroline Crenshaw, argued that some of the market disturbances and corporate failures in the recent past have forced industry observers to become “painfully aware of the inadequacy between investors’ expectations and reality”.
“Cryptographic trading platforms are unique because, among other reasons, they often perform several services under one roof, including sometimes the clearing and the bridges,” said Crenshaw. In traditional finance, these types of functions are “generally carried out by separate recorded entities” because they include a “high risk of conflicts of interest and risks for investors”.
Read more: dry “ Earnest ” on the search for feasible cryptography policy, say the round table commissioners
