The SEC's Crypto 2.0 initiative is a significant step towards strengthening digital asset regulations. This initiative aims to align the trading of digital asset securities with traditional financial instruments by applying standardized transaction reporting requirements under the Securities Exchange Act .
✴️Equal Reporting for Digital Assets:
The SEC will require timely transaction reporting to improve transparency and protect investors.
✴️Stricter Oversight of Off-Chain Transactions:
The SEC will focus on off-chain trade activities, such as those conducted over-the-counter (OTC) or through decentralized platforms.
✴️Digital Asset Transaction Repository (DART):
A joint initiative with the CFTC to launch a centralized platform for tracking digital asset securities transactions.
✴️Market Structure & Investor Protection Norms:
Updated norms for market structure, including potential amendments to the Securities Exchange Act.
✴️Presidential Cryptocurrency Task Force:
A task force to coordinate federal agencies, streamline regulation, and reinforce consumer protection in the crypto ecosystem.
The Crypto 2.0 initiative is expected to bring significant changes to the digital asset market regulatory framework. With stricter reporting requirements and oversight, the SEC aims to protect retail investors, provide greater legal clarity, and maintain market integrity.