#SECCrypto2.0 This initiative is shaking up the market. The U.S. Securities and Exchange Commission (SEC) has officially advanced its "SEC Crypto 2.0" initiative and requested the establishment of a Presidential Working Group on Cryptocurrencies, as the SEC aims to align the trading of digital asset securities with traditional financial instruments by applying standardized transaction reporting requirements under the Securities Exchange Act. Key highlights of the SEC's Crypto 2.0 proposal: 1) Equal reporting for digital assets: The SEC will push to treat digital assets like traditional securities, requiring timely transaction reporting to enhance transparency and protect investors. Stricter oversight of off-chain transactions 2) An important focus of Crypto 2.0 is on off-chain trading activities, such as those conducted in the over-the-counter (OTC) market or through decentralized platforms, which the SEC considers high-risk and poorly regulated. 3) Digital Asset Transaction Repository (DART). The agency proposed a joint initiative with the CFTC to launch and oversee a Digital Asset Transaction Repository (DART). This centralized platform would serve as an authorized source for all digital asset securities transactions, helping regulators monitor market activity more effectively. 4) Market Structure and Investor Protection Standards. The structure will include updated standards for market structure, including possible amendments to the Securities Exchange Act, to address the rapidly evolving digital asset space.
#SECCryptoRegulation $BTC #sol
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