š US Stocks Take a Hit Major US indices closed lower as investor sentiment soured amid rising interest rate concerns and mixed corporate earnings. Tech and growth stocks led the decline, with the S&P 500 and Nasdaq both seeing sharp drops.
š Traders are watching the Fedās next move closely. Could more volatility be ahead?
#SECCrypto2.0 SEC Pushes Forward "Crypto 2.0" Initiative, Backs New Presidential Task Force on Digital Assetses The U.S. Securities and Exchange Commission (SEC) has officially advanced its "SEC Crypto 2.0" initiative and called for the establishment of a Presidential Cryptocurrency Working Group, signaling a renewed push toward tighter oversight and structural reforms in the digital asset sector.
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 SECās 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.
Digital Asset Transaction Repository (DART)
The agency has proposed a joint initiative with the CFTC to launch and oversee a Digital Asset Transaction Repository (DART). This centralized platform would serve as an authoritative source for all digital asset securities transactions, helping regulators monitor market activity more effectively.
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. 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.
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šŗšø The U.S. SEC is set to host its first-ever Crypto Regulation Roundtable today at 1 PM ET!
Investors and crypto enthusiasts eagerly await potential regulatory updates that could shape the future of digital assets. Will we see positive changes? Stay tuned!
#SEC #CryptoNews #USDC
š Disclaimer: This post includes third-party opinions and is not financial advice. It may contain sponsored content. See T&Cs for details.
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