The Crypto project initiated by the SEC will completely reshape the U.S. financial industry, making the country a leading hub for Blockchain and cryptocurrency.
Under Paul Atkins' leadership, the SEC announces Project Crypto to encourage the development of tokenized securities, simplify regulations, and legalize DeFi, facilitating transparent and efficient business operations in the digital age.
MAIN CONTENT
Project Crypto opens a new era for Blockchain and cryptocurrency in the United States.
Transparent regulations that classify digital assets help reduce legal confusion.
Legalizing DeFi and tokenizing securities, promoting innovations in digital finance.
How can the United States become the leading Blockchain hub?
The SEC under Paul Atkins is launching Project Crypto with the goal of making the United States a leader in the fields of Blockchain and cryptocurrency. This is a turning point after many years of U.S. cryptocurrency companies having to relocate abroad due to a lack of clear regulations.
Atkins emphasizes the importance of the United States continuing the tradition of financial innovation from the establishment of the New York Stock Exchange (1792) to electronic trading (1990s), and now advancing into the Blockchain era, building a sustainable foundation for the tokenization of securities and bonds.
The project will support platforms like Coinbase and Robinhood to become a bridge between traditional markets and on-chain markets, thereby retaining capital flow and fostering technological innovation domestically.
What makes the new regulations different to simplify access?
Unlike Gary Gensler's previous stance, Paul Atkins believes that most digital assets are not securities and need to be clearly classified into groups such as digital commodities, stablecoins, and collectible tokens to avoid prolonged legal confusion.
Project Crypto also promotes the development of tokenized securities right on U.S. soil, eliminating the need for businesses to operate abroad. Notably, licensed broker-dealers will be allowed to simultaneously trade both traditional and cryptocurrency products without needing separate registrations with each state and federal regulatory agency.
This opens up opportunities for easier market access, reduces compliance costs, and promotes competition in the digital finance sector.
What is the proposal for DeFi within the legal framework?
The SEC also aims to legalize DeFi (Decentralized Finance) tools such as automated market makers and on-chain lending. This is seen as a significant step towards integrating DeFi into the modern financial ecosystem while ensuring safety and transparency.
As a result, users will experience 24/7 trading, instant payment, and cross-asset borrowing with the protection of a tightly regulated environment, differing from the current lawless DeFi models.
Project Crypto is the largest and clearest step ever proposed by a U.S. regulatory agency for the cryptocurrency sector, aimed at creating a fairer and more transparent market.
Bernstein, analyzing Project Crypto, 2023
How does the United States plan to lead the digital financial revolution?
At the end of the speech 'American Leadership in the Digital Finance Revolution,' Paul Atkins sends a clear message: the United States will not only follow but lead the digital financial era with initiatives like Project Crypto.
Experts at Bernstein recognize this as a strategic shift from 'online' to 'on-chain,' opening up many development opportunities for domestic businesses and investors.
Frequently Asked Questions
What is Project Crypto?
Project Crypto is the SEC's plan to establish clear regulations, develop the tokenization of securities, and legitimize DeFi in the United States.
How will the SEC classify digital assets?
The SEC categorizes digital assets into three main groups: digital commodities, stablecoins, and collectible tokens to reduce legal confusion.
Will DeFi be legalized in the United States?
The SEC proposes to legalize DeFi to enable 24/7 trading and on-chain lending in a safe regulatory environment.
What impact will Project Crypto have on U.S. cryptocurrency businesses?
The project helps businesses operate domestically more easily with transparent regulations and allows for the simultaneous integration of traditional and cryptocurrency products.
Does the United States really want to lead the digital financial era?
Thanks to Project Crypto, the United States aims to transform the digital financial market and maintain its global leadership in Blockchain innovation.
Source: https://tintucbitcoin.com/du-an-sec-bien-doi-wall-street-mai/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
