Speaking to representatives of the organization of economic cooperation and development (OECD) in France, the American official said that after the “many years of brutal persecution” of cryptocurrency companies in the United States, the agency abandoned its former position and is ready to move from judicial persecution to loyal regulation. Atkins called the actions of the previous SEC leadership leading to the outflow of personnel and capital from the United States. The remaining crypto companies were forced to spend millions of dollars on their legal protection, the official said.
“No army can compare with the power of the idea, the time of which has come. And today, ladies and gentlemen, we must admit that the time of cryptocurrencies has come, ”said Atkins, quoting the French writer Viktor Hugo.
The Chairman of the SEC promised that his department would continue to develop understandable rules for suppliers of virtual assets (VASP) services, since the clarity of regulation should attract capital. Recently, the regulator specified that most cryptocurrencies are not securities.
Atkins expressed his readiness to cooperate with European colleagues to regulate cryptocurrencies, making it clear that the law on regulation of cryptocurrencies in the European Union (Mica) can be used as a strategy for supervision of crypto acards around the world.
A few months ago, the head of SEC promised decentralized finance (Defi) freedom from bureaucracy and regulatory barriers. Atkins is sure that the developers should not bear criminal liability if customers use their software solutions for illegal purposes.
Source: Bits
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