A new era of regulations on cryptocurrencies is about to be revealed as a commissioner of the American Securities and Exchange commission (SEC) confirmed that the agency would move in the opposite direction of its surveillance policies strict.
The SEC commissioner, Hester Peirce, said that the regulatory body under the Trump administration would adopt a more pro-Crypto approach to digital assets, a change compared to previous application measures taken against crypto- cash.
More structured policies
In an interview with Bloomberg Crypto TV, Peirce said that the regulatory body would move away from an approach centered on the application to supervise the country’s cryptocurrency sector, adding that the accent is now put ‘Agency is to establish clear guidelines governing cryptographic tokens.
Source: Bloomberg Crypto TV
The SEC commissioner admitted to a press release according to which before, the state regulator depended on the implementation measures to regulate the digital asset industry, noting that the approach was moving away from the political function of the dry .
She noted that the dry under the direction of Trump would aim to create a more structured cryptography regulatory framework than to take application measures.
“In recent years, application cases have been used to develop a regulatory policy; It is very atypical. We are trying to resume a path where we really use our other tools to develop a policy, “said Peirce.
No more cryptographic war?
Peirce confirmed that the government had ended its so-called war against cryptocurrencies.
“We use cases of application to define the regulatory policy. We try to pass from this, so we define politics, then we provide cases of application if necessary, “said the SEC commissioner in an interview.
She said the SEC had an ongoing exam on which the State Agency has jurisdiction over cryptos and identifies the regulatory gaps that the US Congress should fill.
For several years, there has been an in progress debate on the question of whether the regulation of cryptocurrencies has been a function of the dry or if the responsibility of the Commodity Futures Trading Commission (CFTC):
“We work to examine our jurisdiction that we currently have and to say what falls within this jurisdiction and what is not part of this jurisdiction, so we can emphasize the congress where we think there are Gaps where perhaps something is not covered by our jurisdiction, ”she explained.
Crypto working group
The reports indicate that Peirce would lead a working group on crypto under the management of the dry, adding that the production of the working group would be a clear regulatory framework for cryptocurrencies.
According to analysts, the dry working group will assess cryptocurrencies should be classified as securities and assess the jurisdiction of the agency in the digital asset market.
Earlier, US President Donald Trump has signed a decree that will establish an advisory panel on cryptocurrency regulations. Trump also plans to create a stock of national cryptography.
Peirce is a supporter known to the funds negotiated in exchange for Bitcoin (ETF) and was against the application measures taken by the SEC against digital asset companies.
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