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SEC to Shape Crypto Policy with ‘Notice and Comment,’ Says Atkins
- On June 3, Paul Atkins, the newly appointed SEC Chair, stated that the agency intends to develop cryptocurrency regulations through a formal notice and comment rulemaking process rather than relying on enforcement actions.
- This shift follows criticism of the previous SEC leadership under Gary Gensler, whose enforcement-driven approach allegedly hindered innovation and allowed fraud to persist in crypto markets.
- Atkins indicated that the SEC will utilize its current powers to develop clear regulations governing the issuance, holding, and exchange of cryptocurrencies, while facilitating coordination through the newly established Crypto Task Force chaired by Hester Peirce.
- He emphasized that clear rules are necessary for investor protection, helping to identify scams, and that the agency will return to policing real wrongdoing consistent with Congress’s original intent.
- This new approach suggests the SEC aims to foster regulatory clarity and innovation, potentially promoting stability and growth in the American crypto market after dropping several high-profile lawsuits.
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20 Articles
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