“`html
The initiative seeks to update the SEC for 21st-century finance and was established in reaction to recent policy suggestions from the White House.
News
Chairman Paul Atkins of the US Securities and Exchange Commission has unveiled “Project Crypto,” a scheme to modernize the agency for the digital finance era and create distinct regulations for digital assets in the United States.
Atkins indicated that Project Crypto was a direct outcome of advice from a recent report from the President’s Working Group on Digital Assets, which he referred to as the “blueprint” for effective crypto regulation in the United States. Atkins stated:
Many of the Commission’s historical rules and regulations are illogical in the twenty-first century — much less for on-chain markets. The Commission must overhaul its regulatory framework to prevent barriers from obstructing advancement and competition — both from emerging players and established firms — to the detriment of Main Street.”
Equipping the SEC for internet capital markets and on-chain finance has been a declared objective of the new SEC chair and a means to solidify US preeminence in crypto.
Update (date and time in UTC): This article has been revised to [insert the new info being presented.]
Source link
“`
