The US Securities and Exchange Commission is on its way to a target for the year for its efforts to get cryptic companies pushing new products under the regulator’s supervision, President Paul Atkins said in a Tuesday interview about FOX Business.
The pro-digital asset rhetoric from Atkins is on-brand for its campaign to roll friendly policies off the industry, adapted to orders from President Donald Trump. Both SEC and Commodity Futures Trading Commission said earlier this month that they invite existing registered companies to move forward with crypto activity and that they should just check in with questions about how to move on, and SEC also published a public agenda that reflected planned rules for offers and sales of crypto peaks, including exemptions and secure port.
“We are trying to give the market a kind of stable platform on which they can introduce new products,” said Atkins. “We are doing regulation in the coming months. We are looking for an innovation exemption to try to get it in place for the end of the year.”
Although he suggested an end of the year line for the end, every regulatory process must go through several phases that generally each take months and require public input.
Just last week, the agency moved to let the exchange list Exchange-Traded Products (ETPS) holding spot-raw products, including Cryptocurrencies, without demanding the agency’s individual review every time-a generic listing standard that will reduce barriers to new products. SEC has also issued personnel policy statements to serve as informal guidance on its crypto views that affect different areas such as Memecoins, Mining and StableCecoins. However, these topics would need formal rules approved by action at the commission level to obtain a fixed legal basis.
Meanwhile, legislators in Congress – most specifically work the Senate Bank Committee and Agriculture Committee – with the latest legislation to put protection frames around the US crypto markets. Attorneys for this bill, which largely resemble the representatives ‘House of Representantes’ Digital Asset Market Clarity Act, already adopted with a broad Bipartisan vote, reportedly aimed at further committee measures at the end of October.
“I look forward to Congress acting after this,” said Atkins. While the legislation will clearly define the roles of SEC and CFTC and the boundaries between crypto -securities, raw materials and other assets, Atkins has driven the agency since its first days that it can move on to politics without congress.
Read more: US SEC’s Atkins Posts Agency’s almost term agenda jammed with crypto efforts
