Odaily Planet Daily News US Securities and Exchange Commission (SEC) Chairman Paul Atkins said that the SEC will continue to promote cryptocurrency and digital securities regulation and will introduce more rules to ensure that the digital asset market remains in the United States.
On October 2, Paul Atkins stated that the SEC’s proposed regulatory framework for crypto asset custody aims to update the rules established in 1940 and only apply to traditional asset custody and custody. The move comes after the U.S. Senate failed to pass the CLARITY Act last month.
He noted that the framework is part of the SEC’s effort to build a comprehensive crypto-asset regulatory system starting in 2025, following the previous proposals for Regulation Crypto Assets and Innovation Exemption, which would establish a five-year sandbox that would allow trading of U.S. stocks on decentralized exchanges and liquidity providers.
John Reed Stark, the former head of the SEC's Office of Internet Enforcement, believes the regulatory push exceeds the SEC's authority and circumvents congressional authority. Paul Atkins said that more regulatory proposals are coming and will continue to assist President Trump’s push to make the United States the global cryptocurrency capital. (Bitcoin.com News)