Paul Atkins: 'Crypto markets have been languishing in SEC limbo'
Paul Atkins, chair of the SEC, emphasized a new approach to cryptocurrency regulation in his speech on May 19. He indicated that the SEC would adapt to developments in the crypto industry while adhering to existing statutes. Atkins acknowledged that the crypto markets have faced prolonged uncertainty and directed staff to draft new rule proposals. The SEC has already dropped several investigations against crypto companies and provided guidance on memecoins and security tokens. Atkins stated the SEC aims to promote innovation rather than hinder it. Concurrently, US lawmakers are considering legislation to clarify the regulatory roles of the SEC and CFTC regarding digital assets. Until this legislation is enacted, the SEC's guidelines may encounter resistance from stakeholders. Upcoming SEC events will address regulatory issues in decentralized finance.
