The US Securities and Exchange Commission (SEC) plans to set clearer rules for the crypto industry using a public comment process instead of relying on lawsuits to shape its approach.
SEC Chair Paul Atkins explained this shift during a Senate hearing on June 3, where he outlined how the agency will handle digital assets going forward.
Atkins said the SEC will use its existing powers to create rules that fit the crypto market and make sure those rules are open to public input.
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He confirmed that enforcement will no longer be used as a first step in regulation. Instead, the agency will focus on building a proper framework and use enforcement mainly to address clear violations, such as fraud and market manipulation.
A key goal under Atkins is to give the crypto market more certainty by setting clear standards around how tokens are issued, stored, and traded. He stressed that these rules are important for protecting investors, especially when it comes to helping them avoid scams.
When asked by Senator Chris Coons whether crypto exchanges should be allowed to handle both digital assets and traditional securities, Atkins did not give a direct answer.
He said the SEC’s Crypto Task Force is working on policy ideas that aim to support new technology while keeping investor protection in place.
Recently, Atkins shared his views on how blockchain technology might create new ways to manage investments. What did he say? Read the full story.
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