On the 21st US time, Paul Atkins officially took the oath as the new chairman of the US Securities and Exchange Commission (SEC), marking a potential major turning point in the SEC's cryptocurrency regulatory policy.
Unlike his predecessor Gary Gensler, who tended to adopt a tough, regulatory enforcement approach, the friendly Atkins has repeatedly emphasized establishing a clear, rational, and principle-oriented digital asset regulatory framework. He believes that "the new regulatory approach should effectively protect investors while also enhancing the United States' international competitiveness in financial innovation."
Major Shift in Regulatory Concept
Atkins emphasized that under his leadership, the SEC should shift from the past mode of "driving regulation through enforcement" to establishing clear regulatory rules."p>obvious manifestation of this change might be reducing the SEC's reliance on litigation and penalties, focusing more on guiding industry through policy guidelines and compliance counseling. This can can be notably seen, as the SEC has recently suspended litigation actions against major cryptocurrency projects like Coinbase and Uniswap.
On the other hand, Atkins also encourages innovation and capital formation. He previously explicitly expressed support for cryptocurrency ETF listings and hopes to accelerate the entry of crypto-asset-based financial products into the market to enhance overall market activity and efficiency. Bloomberg analystcpointed out that currently 72 crypto ETFs are waiting waiting for, including Altcoins like XRP, LTC, SOL, Doge, predicting this will be a crazy year.
To address past regulatory ambiguities, such as clearly defining which assets are securities (under SEC) jurisdiction) and whichities (under CFTC jurisdiction), has recently established an "Cryptocurrency Task Force" and actively holds roundtable forums with discuss industry representatives to discuss asset definition standards and coordinate related legislative work.
Secondly, the SEC is currently developing compliance disclosure standards for token isand exchanges, market aiming to improve market transparency and protection and simplify registration and compliance processes for various crypto, lowering market entry barriers for new ventures.
Impact of Atkins's Appointment on and>
Basically, Paul Atkins's appointment is generally welcomed by the cryptocurrency industry and related advocacy groups. with many viewing it as a sign that the regulatory environment will become clearer and potentially usher in a "new era" favorable to startups.
