🚀 SEC Pushes Forward "Crypto 2.0" Initiative, Backs New Presidential Task Force on Digital Assets
🔍 AI Summary
The U.S. Securities and Exchange Commission (SEC) has officially advanced its "SEC Crypto 2.0" initiative and called for the formation of a Presidential Cryptocurrency Working Group. This signals a renewed push toward tighter oversight and structural reforms in the digital asset sector.
According to ChainCatcher, the SEC aims to align digital asset securities with traditional financial instruments by enforcing standardized transaction reporting under the Securities Exchange Act.
⚡ Key Highlights of the SEC’s Crypto 2.0 Proposal
📊 Equal Reporting for Digital Assets
✅ Digital asset securities will be treated like traditional securities.
✅ Timely transaction reporting will be required to enhance transparency and protect investors.
🔎 Stricter Oversight of Off-Chain Transactions
⚠️ Increased focus on off-chain trade activities (e.g., OTC trades and decentralized platforms).
⚠️ The SEC sees these as high-risk and underregulated, requiring enhanced supervision.
🏛 Digital Asset Transaction Repository (DART)
📌 Joint initiative with the CFTC to establish DART—a centralized transaction repository.
📌 Objective: Provide an authoritative source for digital asset securities transactions.
📌 Goal: Enhance regulatory monitoring and market transparency.
📈 Market Structure & Investor Protection Norms
🔄 Updates to market structure rules under the Securities Exchange Act.
🔄 Adjustments to address the rapid evolution of digital assets.
🏛 Establishment of a Presidential Working Group
🚀 The SEC backs the creation of a Presidential Cryptocurrency Task Force to:
✔ Coordinate federal agencies (SEC, CFTC, Treasury, IRS, etc.).
✔ Streamline crypto regulations across agencies.
✔ Strengthen consumer protections within the crypto ecosystem.
This marks a significant regulatory shift that could reshape the future of digital assets in the U.S. Stay tuned for further updates!