Speaking at the America First Policy Institute in Washington, Atkins promised that the regulator “will not sit back” and observe the development of cryptocurrency innovations abroad while the American capital markets are stagnated. The SEC chairman plans to take measures to return cryptocurrency companies that left the country because of the previous strict position of their department. SEC would like to ensure that the rules applied to traditional financial companies do not suppress innovation and American business.
“Many SEC provisions no longer make sense in the 21st century, not to mention the cryptocurrency market. We must reconsider our rules so that regulation does not prevent business excesses and competition-both for new crypto-crypto participants and for current players-to the detriment of financial companies, ”Atkins said.
Soon after the administration came to power, Donald Trump SEC ceased the trials with Kraken, Coinbase and Robinhood. Earlier, the regulator accused these companies of trade in unregistered securities. Atkins said that the agency will develop new rules for circulation, storage and trade in cryptocurrencies.
The head of the SEC promised to develop the principles of classifying crypto assets, as well as create conditions for the emergence of “super -applications” – platforms that will allow banks and brokers to provide different types of services with one license, without the need to obtain state and federal licenses.
Atkins recently stated that SEC does not consider ether as a security. The head of the regional department admitted that the Blockchain of Ethereum has become one of the largest networks for creating decentralized finance projects (Defi).
Source: Bits
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