Latest news with #cryptoTaskForce
Crypto Insight
3 days ago
- Business
- Crypto Insight
SEC eyes exemption framework to boost crypto innovation
The US securities regulator is working on an 'innovation exemption' to stoke the creation of more onchain products and services, according to Securities and Exchange Commission chair Paul Atkins. Atkins, a former crypto lobbyist, said during a Monday crypto roundtable led by the SEC's crypto task force titled DeFi and the American Spirit that he has directed staff to consider a conditional exemption relief framework. Exemptions could speed up innovation These temporary exemptions would relieve firms from specific regulatory requirements to foster innovation in emerging tech sectors, provided they meet certain conditions. Atkins said it would speed up the process of bringing onchain products and services to market while the SEC staff considers amendments to the Commission's rules and regulations. 'An innovation exemption could help fulfill President Trump's vision to make America the crypto capital of the planet by encouraging developers, entrepreneurs, and other firms that are willing to comply with certain conditions to innovate with onchain technologies in the United States,' he said. At the same time, Atkins said he has asked staff to consider whether amendments to the commission's rules and regulations would provide needed accommodation for issuers and intermediaries who seek to administer onchain financial systems. 'Most current securities rules and regulations are premised upon the regulation of issuers and intermediaries, such as broker-dealers, advisers, exchanges and clearing agencies,' he said. 'The drafters of these rules and regulations likely did not contemplate that self-executing software code might displace such issuers and intermediaries.' Crypto framework is still a work in progress The agency's Crypto Task Force was launched on Jan. 21 by acting SEC chair Mark Uyeda, who was tasked with establishing a workable crypto framework for the agency. Atkins revealed in June 3 remarks to the Senate Appropriations Subcommittee on Financial Services that the SEC will hone its crypto policies with 'notice and comment' and move away from shaping its rules through the courts. He previously appeared before lawmakers on May 20 and said the Crypto Task Force would release its first report in the next few months. New approach at SEC During Monday's crypto roundtable, Atkins also bashed the previous administration under former SEC Chair Gary Gensler and its approach to crypto. Gensler was heavily criticized by the crypto industry for supposedly creating policy through lawsuits and legal settlements rather than rulemaking. Since Gensler resigned on Jan. 20, the SEC has adopted a different approach to crypto, dismissing long-running enforcement actions against crypto firms. SEC staff have also released guidance around the most common crypto staking activities, saying they do not violate securities laws, as well as information about how federal securities laws could apply to crypto. Source:
CNA
12-05-2025
- Business
- CNA
US SEC chair says agency plans to create new rules for crypto tokens
Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency's cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities and consider whether additional exemptions are necessary. In remarks made at the outset of a public meeting of the SEC's crypto task force, Atkins also indicated that the SEC may consider tweaking its rules so that registered broker-dealers with an alternative trading system - or ATS - can also facilitate trading in non-securities, such as bitcoin or ether, the two largest cryptocurrencies. "A key priority of my chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody and trading of crypto assets while continuing to discourage bad actors from violating the law," Atkins said. Atkins, who was sworn in last month, has said his top priority as SEC chair will be to have a firm foundation for digital assets and keep politics out of securities laws. The crypto industry has long clashed with regulators over how federal securities laws translate to digital assets, with many arguing that most crypto tokens are more akin to commodities. Tokens classified as securities would require firms to register with the SEC and provide certain disclosures to investors. President Donald Trump, who campaigned on promises to be a "crypto president," has pledged to reverse an industry crackdown under former President Joe Biden's SEC, which sued multiple crypto companies, including Coinbase and Kraken, alleging they had flouted its rules. The SEC's new leadership has agreed to withdraw or pause many of those cases. Republican SEC Commissioner Hester Peirce is leading the SEC's crypto task force, which is charged with developing rules and guidance for the sector.
Reuters
12-05-2025
- Business
- Reuters
US SEC chair says agency plans to create new rules for crypto tokens
May 12 (Reuters) - Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency's cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities and consider whether additional exemptions are necessary. In remarks made at the outset of a public meeting of the SEC's crypto task force, Atkins also indicated that the SEC may consider tweaking its rules so that registered broker-dealers with an alternative trading system - or ATS - can also facilitate trading in non-securities, such as bitcoin or ether, the two largest cryptocurrencies. "A key priority of my chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody and trading of crypto assets while continuing to discourage bad actors from violating the law," Atkins said. Atkins, who was sworn in last month, has said his top priority as SEC chair will be to have a firm foundation for digital assets and keep politics out of securities laws. The crypto industry has long clashed with regulators over how federal securities laws translate to digital assets, with many arguing that most crypto tokens are more akin to commodities. Tokens classified as securities would require firms to register with the SEC and provide certain disclosures to investors. President Donald Trump, who campaigned on promises to be a "crypto president," has pledged to reverse an industry crackdown under former President Joe Biden's SEC, which sued multiple crypto companies, including Coinbase and Kraken, alleging they had flouted its rules. The SEC's new leadership has agreed to withdraw or pause many of those cases. Republican SEC Commissioner Hester Peirce is leading the SEC's crypto task force, which is charged with developing rules and guidance for the sector.
