Chair Paul Atkins Says It’s a ‘New Day’ for the SEC, Calls for ‘Rational’ Crypto Regulation

The Chairman of the US Securities Commission, Paul Atkins, continues on his crusade to bring the “new day” sec -Ui to transfer the agency’s attitude towards digital property.

Testifying before the Senate approval of the Senate on Financial Services and the General Government on Tuesday, Atkins trapped Follow the “rational regulatory frame” for crypto assets, priority for the adoption of the rules and transparency in relation to the implementation actions.

“Clear road rules are needed to protect the investor from fraud – no one to help them identify frauds that do not match the law,” he said.

“Policy production will be done through notification and commentary on the rules, not the regulations,” Atkins added.

Atkins, veteran sec, was confirmed in April after a long and partisan nomination procedure.

His return indicates a great deviation from the approach taken by his predecessor, Gary Gensler, whose mandate was labeled Executive actions against the cryptocurrency of companies and a wide interpretation of the law on securities that made it unpopular in the cryptum industry.

From Gensler’s exit, SEC gave up several high lawsuits, first under the temporary stool Mark Uyeda and then under Atkins, and issued guidelines for multiple cryptocurrency categories including, including, including, including, including, including, including, including, including, including, including, including, including, including excluded Certain activities in accordance with the regulation of securities.

The developing holding of the agency comes due to increasing momentum in Congress to fully eliminate its authority over cryptocurrencies.

Last week the legislators presented the Claus Act, which would Amand Laws on securities that will exclude most of the Kripto assets from the jurisdiction of SEC and establishing a new legal framework.

“Our proposal of the law provides US dominance, democratizes digital assets, releases innovation and protects consumers from fraud,” tail. Bryan Steil (R-Wi), president of the House Financial Services Pododbor, said at the time.

Democratic employees on the House Financial Services Committee have criticized SEC for depriving an analysis of influence on the proposal of the law, causing concern that the proposal could create holes for traditional finances under the guise of accepting blockchain.

Atkins acknowledged the moving legislative landscape, but emphasized the role of the new SIC of the Cryptum of Cryptum and the upcoming roundtable define in the support of innovation.

“I expect the benefit of this market innovation for efficiency, cost reduction, transparency and risk relief,” he said.

Edited Sebastian Sinclair