SEC Chair: US Missed Crypto Regulatory Window, Accelerating Rule Modernization

Odaily News The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated that the SEC is revitalizing its pace in the crypto regulatory field to address previous shortcomings in policymaking. Speaking at an event at the University of Texas, he noted that regulators had failed to adapt promptly to industry innovation trends in the past.

Atkins mentioned that since the Donald Trump administration took office, the SEC's stance has become more open. It has established a crypto working group, withdrawn multiple enforcement cases, and launched the "Project Crypto" initiative to promote updates to the regulatory framework. He emphasized a greater focus on the application prospects of distributed ledger technology in payment, clearing, and settlement systems, rather than on short-term price fluctuations.

Furthermore, the SEC approved WisdomTree's digital currency market fund this week to enable 7×24 hour trading and instant settlement. Atkins also revealed that the exploration of tokenized bank deposit products will be pursued in the future. (The Block)