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The US Securities (SEC) Commission plans to set a clearer rules for the crypto industry Using a public comment procedure instead of relying on lawsuits for shaping his approach.
Sec President Paul Atkins explained this shift during a Senate hearing on June 3where he pointed out that the Agency would bear a digital property that goes forward.
Atkins said SEC will use its existing powers Create the rules that correspond to the crypto market and ensure that these rules are open to public contribution.
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He confirmed that the implementation will no longer be used as the first step in regulation. Instead, the agency will Focus on the construction of the appropriate frame and use of implementation mainly to resolve clear violationslike fraud and manipulation on the market.
The key goal under Atkins is Give a crypto market greater security by setting clear standards over how tokens are issuedstored and traded. He emphasized that these rules are important for the protection of the investor, especially when it comes to helping them in avoiding fraud.
Asked by Senator Chris Coons whether the crypto exchange should be allowed to deal with digital property and traditional securities, Atkins did not give a direct answer.
He said that the Cryptumellite Sec Working Group is working on the ideas of politics aimed at supporting new technology while maintaining investors’ protection.
Recently, Atkins shared his views on how blockchain technology can create new ways to manage investment. What did he say? 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.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.
