#SECCrypto2.0 SEC Advances "Crypto 2.0" Initiative, Supports Presidential Task Force on Digital Assets

The U.S. Securities and Exchange Commission (SEC) is moving forward with its "SEC Crypto 2.0" initiative, aiming to tighten oversight and introduce structural reforms in the digital asset market. In a significant regulatory shift, the SEC has also advocated for the formation of a Presidential Cryptocurrency Working Group, which would coordinate federal agencies to streamline regulations and enhance consumer protections.

Key Aspects of the SEC’s Crypto 2.0 Proposal

1. Standardized Reporting for Digital Assets

The SEC seeks to classify digital asset securities under the same reporting framework as traditional securities. This would require real-time transaction disclosures under the Securities Exchange Act, enhancing transparency and investor protection.

2. Stricter Oversight of Off-Chain Transactions

The initiative places particular emphasis on off-chain transactions, such as over-the-counter (OTC) trades and decentralized exchanges. The SEC views these areas as high-risk due to limited regulatory oversight.

3. Creation of a Digital Asset Transaction Repository (DART)

In collaboration with the CFTC, the SEC proposes launching a Digital Asset Transaction Repository (DART). This centralized system would track and record all transactions involving digital asset securities, helping regulators monitor market activity more effectively.

4. Market Structure & Investor Protection Reforms

The SEC is considering amendments to the Securities Exchange Act to address evolving market structures, potentially leading to stricter rules for crypto exchanges and protocols.

5. Formation of a Presidential Task Force

The SEC is backing the establishment of a Presidential Cryptocurrency Task Force, which would include representatives from the SEC, CFTC, Treasury, IRS, and other key agencies. The goal is to improve inter-agency coordination and create a unified regulatory framework.

#SEC #CryptoRegulation #Crypto2.0