As he had signaled, chairman of securities and exchange commission Paul Atkins is loading his agency’s political agenda with crypto work, according to the program revealed on Thursday, revealing what the President called a “new day” for the sector.
“The agenda covers potential rule proposals related to the offers and sales of crypto assets that help clarify the legislative framework for crypto assets and provide greater security for the market,” Atkins said in a statement. “An important priority for my presidency is clear rules for the path of issuing, custody and crypto -assets trade while continuing to deter bad actors from violating the law.”
The rest of the agenda points to a campaign to relax restrictions on securities companies and reconsider the so -called “Consolidated Audit Trail” system intended to track US securities transactions on a live basis. Digital assets represent the leading area with new regulation in an agency management, otherwise there is to introduce new rules, indicate the agenda.
The agenda sets an April goal to propose a rule on the offering and sale of crypto assets, including exceptions and secure ports, and in the same timeframe intends to recommend another rule to change the agency’s rules for securities exchanges to deal with trade in digital assets on “alternative trading systems” (ATS) and national outer vocabulary exchanges.
Federal regulators routinely submit these agendas for public control, although the schedules they set often turn out to be unreliable. Instead, they are widely seen by political observers as a broad indicator of an agency’s direction.
Long before the established crypto rules released SEC and its sister markets Watchdog, however, Commodity Futures Trading Commission, a joint statement earlier this week in which the registered platforms they oversee can handle Spot Crypto Trading and have to come to them for further clarity on how to approach it.
SEC has initiated what Atkins, who advised cryptic businesses in the private sector, called “Project Crypto” to enable the industry’s jump in mainstream financing. CFTC has run what acting chairman Caroline Pham calls a “cryptosprint” to the same end. Both of them routinely say that they are working quickly to try to meet President Donald Trump’s expectations that the United States supports the industry sufficient to become the global leader in this technology.
Read more: SEC’s Atkins: ‘Most crypto assets are not securities’ under bold new vision
