#SECCrypto2.0 ##SECCrypto2.0 $PEPE The U.S. A renewed push for tighter oversight and structural reforms in the digital asset sector has been signaled by the Securities and Exchange Commission (SEC) formally advancing its "SEC Crypto 2.0" initiative and calling for the establishment of a Presidential Cryptocurrency Working Group. According to documents cited by ChainCatcher, 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:
Equal Reporting for Digital Assets
The SEC will push to treat digital asset securities like traditional securities, requiring timely transaction reporting to improve transparency and protect investors.
Stricter Oversight of Off-Chain Transactions
A major focus of Crypto 2.0 is on off-chain trade activities, such as those conducted over-the-counter (OTC) or through decentralized platforms, which the SEC considers high-risk and underregulated.
Repository for Digital Asset Transactions (DART) A Digital Asset Transaction Repository (DART) has been proposed as a joint initiative by the agency and the CFTC. The authoritative source for all digital asset securities transactions would be this centralized platform, enabling regulators to better monitor market activity. Market Structure & Investor Protection Norms
The framework will include updated norms for market structure, including potential amendments to the Securities Exchange Act, to address the fast-evolving digital asset space.
Establishment of a Presidential Working Group
In line with this initiative, the SEC supports the creation of a new Presidential Cryptocurrency Task Force, aimed at coordinating federal agencies, streamlining regulation, and reinforcing consumer protection in the crypto ecosystem. The task force would likely include representatives from the SEC, CFTC, Treasury, IRS, and other key departments.
What It Means for the Market
If fully implemented, Crypto 2.0