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US Securities Commission (SEC) considers a new approach that could Allow crypto directed companies to test ideas on a chain with fewer regulatory barriers.
SEC President Paul Atkins shared the idea During discussion on June 9 Called “Define and American Spirit,” hosted by the SEC’s Working Group for cryptocurrencies.
Atkins said he asked the staff Make a system that gives temporary exemption from certain rules. This would only be applied under certain conditions and would allow companies to be easier to develop products and blockchain -based services.
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This proposal, which Atkins called “Innovation of Exception”intended Support the faster development of the crypto tools while sec looking at whether his current rules still make sense. He said it could help convert now into a leading country for a crypto business.
In addition, Atkins wants to sec to sec Explore whether his current Ordinance should change in order to better reflect how blockchain works. He pointed out that many current rules are designed for systems that rely on mediators, such as mediator, advisor and exchange.
However, in the crypto industry, these roles often deal with software, not people or companies.
As Atkins explained, the original regulations did not count for tools that are automatically triggered without any central bodies. This gap could make it difficult for the companies to work under existing laws, even if their projects offer the same financial functions in a new way.
3 June, SEC published plans for clarifying the rules for the cryptum industry through the public comment procedure instead of relying on lawsuits. What did Atkins say about it? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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