According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) announced support for advancing the "SEC Crypto 2.0" plan and establishing a new presidential cryptocurrency working group. The document indicates that the SEC should clarify that digital asset securities trading (including on-chain and off-chain) must comply with the same trading reporting requirements as traditional securities. This aims to protect retail investors, provide legal certainty for financial transactions, and promote financial innovation while ensuring market integrity.
SEC recommendations:
- Strengthen off-chain trading supervision, develop investor protection and market structure regulations for digital asset securities activities facilitated by trading platforms through off-chain transactions;
- Improve trading reporting mechanisms, modify Securities Exchange Act rules to fulfill market supervision responsibilities, and require timely reporting of all transactions considered digital asset securities;
- Establish a Digital Asset Repository of Transactions (DART), with the SEC collaborating with the Commodity Futures Trading Commission (CFTC) to jointly authorize and supervise a digital asset trading repository.
