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The head of the US Securities (SEC) Securities Commission (SEC) Paul Atkinstalked about how Blockchain technology could lead to new ways of handling investments.
Speaking in sec in May 12 round table On digital assets and tokenization, Atkins said that blockchain could change the way the financial markets function and open the door to ideas that older laws did not expect.
He also explained that instead of relying on the executive actions to set up the rules, SEC would Focus on creating clear policies using your existing authority. This means that companies can expect more predictable rules, not to discover that they have been broken after the fact.
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Atkins called him a “new day in the Sec’s” and said that future decisions would be based on the rules, guidelines and exemptions when it was appropriate.
One of the main goals of the SEC will be Build a clear system for how investments in crypto are published, stored and traded. This system should be easy to follow while preventing illegal behavior.
Atkins said the agency would work on Define what counts as security in the crypto industry and will give guidelines on how these assets should be acted. He added that they also wanted to let the brokers offer a wider mixture of investment opportunities, even if some of them are not traditional securities.
Atkins compared it to the way the music formats developed, from records and cassettes to digital files. He said that each new format made it easier for people to use music on different platforms. In the end, this led to the flow, which changed the way people approach music and helped the growth of economics.
Meanwhile, almost 30 cryptocurrency advocacy organizations recently asked SEC to clarify the rules on the crypto attitude. What prompted this shop? 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.
