Table of Contents
- Introduction
- Paul Atkins’ First Address as SEC Chairman
- Key Announcements from Paul Atkins
- Comparison with Former Chairman Gary Gensler’s Policies
- Impact on the Crypto Industry
- Conclusion
The new chairman of the US Securities and Exchange Commission (SEC), Paul Atkins, has spoken of great relief for the crypto industry. In his first public address, Atkins indicated that the SEC is now moving away from a strict attitude towards cryptocurrencies and towards adopting a collaborative and innovation-friendly policy.
Atkins said in a crypto roundtable event, “The crypto industry has long been hindered by vague and outdated rules. Now the time has come for us to create a framework of clear and modern rules that suits the needs of this sector.” He also made it clear that the SEC has the right to implement many policy changes on its own without any congressional permission.
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Key points of Atkins' change:
Crypto brokerage and custody rules will be reviewed.
Blockchain technology will be adopted for transparency and risk management in the financial system.
Innovation will be promoted while ensuring investor safety.
This stance is completely different from the policy of former chairman Gary Gensler, during whose tenure the SEC took strict action against many crypto companies. Atkins’ thinking is now pointing towards giving relief to the crypto industry and making America a leader in blockchain innovation.
The crypto community has welcomed this announcement of Atkins and it is being seen as a positive change. Experts believe that if these promises come to fruition, it could prove to be a new era for the US crypto sector.
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