#SECCrypto2.0

The U.S. Securities and Exchange Commission (SEC) has initiated the "#crypto2.0 " initiative, aiming to enhance oversight and transparency in the digital asset sector. This initiative seeks to align the trading of digital asset securities with traditional financial instruments by implementing standardized transaction reporting requirements under the Securities Exchange Act. 

Key Highlights of the #seccrypto2.0 Proposal:

Equal Reporting for Digital Assets: The #SEC intends to treat digital asset securities similarly to traditional securities, mandating timely transaction reporting to improve transparency and protect investors.

Stricter Oversight of Off-Chain Transactions: A significant 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.

Digital Asset Transaction Repository (DART): The agency has proposed a joint initiative with the Commodity Futures Trading Commission (CFTC) to launch and oversee a Digital Asset Transaction Repository (DART). 

In response to the evolving regulatory landscape, Binance and the SEC filed a joint motion last month to halt their legal dispute for 60 days. This pause allows both parties to consider the implications of the SEC's new crypto task force and its potential impact on the crypto regulatory environment. 

THE BLOCK

The #Crypto2.0 initiative represents the SEC's effort to adapt its regulatory framework to the evolving digital asset landscape, balancing the promotion of innovation with the imperative of investor protection.