🚨 New SEC Chair Announces New Direction for Crypto Regulation
At the 4th meeting of the Crypto Task Force, SEC Chairman Paul Atkins announced a significant shift in the agency's approach to the crypto market - ending the 'sue first' policy of the Gensler era.
Key points:
- The SEC will use its existing authority to issue clear, transparent regulations instead of handling issues ambiguously.
- Develop specific guidelines to classify which digital assets are securities.
- Consider allowing self-custody of digital assets for funds and financial advisors (under certain conditions).
- Research conditional exemptions for projects wishing to test new products that do not fit within the old regulatory framework.
After Atkins' remarks, many companies in the industry believe that the SEC under new leadership is ready to listen and collaborate with the market. Rather than only focusing on risks, the agency is beginning to embrace the opportunities that public, decentralized blockchain technology offers to investors.
