CMC News

#SEC Chairman #Atkins Promises Notice-and-Comment Rulemaking for #Crypto

Paul Atkins told Congress the SEC will develop #crypto policies through proper rulemaking instead of enforcement actions.

The SEC chair addressed the Senate Appropriations Subcommittee on Financial Services regarding the agency's new approach.

"Regulation by enforcement" practices from the previous administration will be replaced with transparent rule development.

Creating a "rational regulatory framework for crypto assets" represents a key priority under Atkins' leadership.

The agency's #Crypto Task Force continues developing regulations that enable innovation while maintaining investor protection.

Atkins plans to establish "clear rules of the road" for crypto issuance, custody, and trading activities.

The commission will focus its enforcement efforts on fraud and manipulation rather than policy creation through lawsuits.

Democrat Senator Chris Coons questioned whether crypto exchanges should handle traditional securities alongside digital tokens.

Atkins requested Congressional approval to disband the Strategic Hub for Innovation and Financial Technology.