Paul Atkins has unveiled fresh plans at the SEC Crypto Roundtable to turn the US into the crypto capital of the world.

US SEC Chair Paul Atkins has revealed ambitious plans to create a rational regulatory framework for cryptocurrencies under his tenure.

Atkins delivered a keynote speech at the SEC Crypto Roundtable, confirming the start of a "new day" for the securities watchdog.

Paul Atkins Unveils Regulatory Direction at SEC Crypto Roundtable

The SEC's new chair, Paul Atkins, has announced plans to change the direction of regulatory enforcement by the securities agency.



According to a keynote address at the SEC Crypto Roundtable on Tokenization, Atkins is committed to advancing a clear regulatory framework, with the goal of making the U.S. the crypto capital of the world.

Going forward, the new SEC chair says the commission will abandon its 'shoot-first-and-ask-questions-later approach' in favor of crystal clear regulations.

The roundtable meeting comes on the heels of an SEC meeting with BlackRock that revolved around tokenization and staking. During the meeting, he said:

It's a new day in the SEC. Policy making will no longer result from ad hoc enforcement actions.

Atkins noted at the SEC Crypto Roundtable that his tenure on the commission will prioritize stronger rules for cryptocurrencies in three major areas – issuance, custody, and trading.

Amid signs of an avalanche of regulations, the SEC is considering a possible tokenization exemption for cryptocurrency service providers.

New Rules for Cryptocurrency Custody and Trading

As the SEC Crypto Roundtable gets underway, Paul Atkins’ speech hints at a wave of new regulation set to change the cryptocurrency landscape.

For starters, the SEC has the issuance of crypto assets firmly in its sights and will be enacting new regulations to provide clarity.

Second, Atkins noted that the SEC will provide regulatory clarity for a qualified custodian while committing to update the custody rules.

Additionally, Paul Atkins notes that a broker-dealer's rules may need to be updated in light of perceived restrictions on custodial services.

"Additionally, it may be necessary to repeal and replace the special-purpose broker-dealer framework with a more robust system," Atkins said.

Finally, Paul Atkins revealed plans to improve existing rules around trading cryptocurrencies during the SEC Crypto Roundtable.

Going forward, broker-dealers will offer securities and non-securities in a single super app.

Atkins notes that the ATS regulatory regime will accommodate cryptocurrencies in the near future.

In his SEC Crypto Roundtable keynote address, the SEC Chair hinted at the potential for cryptocurrencies to be traded on national securities exchanges.

Since Paul Atkins took over, excitement among market participants has been at an all-time high, with the SEC wrapping up its long-running lawsuits against service providers.

The Commission has filed a settlement agreement letter in the Ripple SEC case, bringing the five-year-old case to a close.

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