Paul Atkins Vows To Make US Crypto Capital Of The World

US SEC Chair Paul Atkins has revealed ambitious plans to roll out a rational regulatory framework for cryptocurrencies during his tenure. Atkins delivered the keynote address at the SEC crypto roundtable, confirming the start of a “new day” for the securities watchdog. Paul Atkins Unveils Regulatory Direction At SEC Crypto Roundtable New SEC Chair Paul Atkins has announced plans to change the direction of regulatory enforcement by the securities agency. According to a keynote address delivered at the SEC crypto roundtable on tokenization, Atkins is pledging to pursue a clear regulatory framework, with the goal of making the US the crypto capital of the world. Going forward, the new SEC Chair says the Commission will ditch its ‘shoot-first-and-ask-questions-later approach’ in favor of crystal-clear regulations. The roundtable meeting comes on the heels of the SEC meeting with BlackRock revolving around tokenization and staking. During the meeting, he said, It is a new day at the SEC. Policymaking will no longer result from ad hoc enforcement actions. Atkins noted at the SEC crypto roundtable that his tenure at the Commission will prioritize robust rules for cryptocurrencies in three major areas – issuance, custody, and trading. Amid the hints of an avalanche of regulations, the SEC is considering potential tokenization exemptions for cryptocurrency service providers. New Rules For Cryptocurrency Custody And Trading As the SEC crypto roundtable powers on, Paul Atkins’ address hints at a wave of new regulation to change the landscape of cryptocurrencies. For starters, the SEC has crypto asset issuances firmly within its sights and will roll out new regulations to provide clarity. Secondly, Atkins noted that the SEC will provide regulatory clarity for a qualified custodian while pledging to update custody rules. Furthermore, Paul Atkins notes that the rules for a broker-dealer may require updating given the perceived restrictions on custody services. “Additionally, it may be necessary to repeal and replace the special purpose broker-dealer framework with a more powerful regime,” said Atkins. Finally, Paul Atkins disclosed plans during the SEC crypto roundtable to improve current rules around trading cryptocurrencies. Going forward, broker-dealers will offer securities and non-securities in a single super app. Atkins notes that the ATS regulatory regime will accommodate cryptocurrencies in the near future. The SEC Chair hinted at the possibilities of trading cryptocurrencies on national securities exchanges in his SEC crypto roundtable keynote address. Since Paul Atkins assumed office, enthusiasm among market participants is at an all-time high, with the SEC wrapping up its long-running lawsuits against service providers. The Commission has filed a settlement agreement letter in the Ripple SEC case, bringing the five-year-old case closer to its end. ✓ Share: Aliyu Pokima Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/sec-crypto-roundtable-paul-atkins-vows-to-make-us-crypto-capital-of-the-world/