US SEC Considering Innovation Exemption For DeFi
The US Securities and Exchange Commission (SEC) is developing an "innovation exemption" to promote the creation of onchain products and services. SEC Chair Paul Atkins indicated that this conditional exemption would relieve firms from certain regulatory requirements to encourage innovation in emerging technologies. The goal is to expedite the market introduction of onchain products while the SEC reviews its rules. Atkins emphasized that this initiative aligns with efforts to position the US as a leader in the crypto space. The SEC's Crypto Task Force, established in January, aims to create a workable framework for cryptocurrency regulation. Atkins criticized the previous administration's approach, which relied heavily on litigation rather than rulemaking. Since the change in leadership, the SEC has shifted its strategy, including dismissing enforcement actions against crypto firms and providing guidance on crypto staking activities.
