#crypto

The Chairman of the U.S. Securities and Exchange Commission (SEC) discusses a new approach to regulating the cryptocurrency industry.

New policy for decentralized finance (DeFi):

- The U.S. Securities and Exchange Commission (SEC) is working on an "innovative exemption" for decentralized finance platforms, which would free them from regulatory hurdles.

- The SEC needs to amend rules to provide exemptions for issuers and intermediaries in blockchain systems.

- Developers of decentralized finance (DeFi) software should not be held responsible for how their tools are used.

- The previous approach of the commission stifled innovation on the grounds that developers might be intermediaries.

The stance on self-custody of cryptocurrencies:

- The right to self-custody of private property is considered a "core American value".

- The SEC intends to grant cryptocurrency investors greater flexibility for self-custody of tokens.

The new approach of the regulatory body:

- A radical shift in the SEC's approach and stance towards the cryptocurrency industry.

- Criticism of applying "old regulatory frameworks" to new technologies.

- "Do not fear the future".

- Establishment of a cryptocurrency task force.

- Hosting discussions on various aspects of cryptocurrencies.

- The Republican majority on the committee supports pro-cryptocurrency policies.