According to Paul Atkins, chairman of the Securities and Exchange Commission, the US Securities Regulator is working on a “innovation discount” to prevent the manufacture of more onchain products and services.
Atkins, a former Crypto Lobist, Said During the crypto roundtable on Monday, Defa and American Spirit led by SEC’s Crypto Task Force was titled that they have directed employees to consider a conditional exemption relief structure.
Rebate can speed up innovation
These temporary discounts will relieve firms from specific regulatory requirements to promote innovation in emerging technical areas, provided they fulfill certain conditions.
Etkins said it would intensify the process of bringing onchain products and services to the market, while the SEC Employees consider amending the commission’s rules and regulations.
He said, “An innovation exemption can help fulfill the vision of President Trump to make the US Crypto Capital by encouraging developers, entrepreneurs, and other firms, who are ready to follow certain conditions to innovate with onchain technologies in the United States,” he said.
At the same time, Etkins said that he has asked the employees to consider whether the amendments in the rules and regulations of the Commission will provide the necessary housing for issuers and middlemen who want to administration. Onchain financial systems,
“Most current securities are based on the regulation of the rules and regulations and middlemen, such as broker-dealers, advisors, exchange and clearing agencies,” he said.
“Draftters of these rules and regulations did not consider that self-performing software codes could displace such issuers and middlemen.”
Crypto Framework is still a task in progress
The agency’s Crypto Task Force was launched by acting SEC President Mark Uyda on 21 January, which was assigned Establish a practical crypto structure For the agency.
On June 3, Etkins told the Senate appropriation subcommittee about the sub -committee on financial services that SEC will do it. Crypto policies with “notice and comment” And go away from shaping your rules through the courts.
He first appeared in front of MPs on 20 May and said Crypto Task Force Will leave it First report in next few months,
New approach on second
During Monday’s crypto roundate, Atkins also Killed previous administration Under its approach to former SEC President Gary Gensler and Crypto.
Gensler was heavily criticized by the Crypto industry for making rules instead of making policy through cases and legal settlements by the Crypto industry.
Connected: SEC charged Unicin Crypto platform on $ 100 million fraud
Since Gensler resigned on 20 January, SEC has adopted a different view for Crypto, Prolonged enforcement Action against crypto firms.
SEC staff has also issued guidance Most common crypto staking activitiesSaying that they do not violate securities laws, as well as how information Federal securities laws may apply For Crypto.
