{"id":27595,"date":"2025-05-20T05:33:15","date_gmt":"2025-05-20T05:33:15","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27595"},"modified":"2025-05-20T05:33:15","modified_gmt":"2025-05-20T05:33:15","slug":"sec-chair-slams-agencys-previous-head-in-the-sand-crypto-regulation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27595","title":{"rendered":"SEC Chair Slams Agency\u2019s Previous \u2018Head-In-The-Sand\u2019 Crypto Regulation"},"content":{"rendered":"
\n

In a significant address aimed at revitalizing the relationship between regulators and the cryptocurrency market, new US Securities and Exchange Commission (SEC) Chair Paul Atkins outlined his vision for a more constructive regulatory environment.\u00a0<\/p>\n

Trust Deficit Between SEC And Crypto Industry<\/h2>\n

Speaking to capital markets on Monday, Atkins criticized <\/a>the previous administration\u2019s \u201cregulation by enforcement\u201d approach, which he believes has stifled innovation and left the crypto industry in a state of uncertainty.<\/p>\n

Atkins described the SEC\u2019s past strategies as a \u201chead-in-the-sand\u201d approach, initially hoping that the crypto market would simply fade away. This was followed by a more aggressive \u201cshoot-first-and-ask-questions-later\u201d method, where market participants often found themselves facing subpoenas rather than receiving guidance.\u00a0<\/p>\n

The new pro-crypto chair emphasized that this created a \u201cCatch-22\u201d \u2014 a difficult situation from which there is no escape \u2014 for those trying to navigate the regulatory landscape<\/a>. He believes that this has led to a lack of trust between the SEC and the crypto industry.<\/p>\n

In his prepared remarks, Atkins stated, \u201cThe crypto markets have been languishing in SEC limbo for years.\u201d He underscored the need for regulators to adapt existing rules to accommodate technological advancements, arguing that the SEC should use its authority to foster innovation rather than impede it.\u00a0<\/p>\n

\u201cOld ways of doing things should not be immutable,\u201d he also noted while advocating for flexibility in regulatory frameworks<\/a> to better align with the evolving nature of the digital asset market.<\/p>\n

Plans To Draft New Digital Asset Rules<\/h2>\n

Atkins also highlighted the previous SEC leadership\u2019s failure to facilitate open communication between staff and market participants, particularly when complex legal questions arose.\u00a0<\/p>\n

To address this, Atkins has directed the Division of Corporation Finance to maintain transparent interactions with the public, allowing for more nimble capital allocation <\/a>and fostering a more collaborative environment.<\/p>\n

As part of his commitment to reform, Atkins announced that the SEC staff is currently drafting rule proposals related to cryptocurrency. Meanwhile, he encouraged staff to provide useful insights through informal FAQs, which, although not formal regulations, can help clarify industry concerns.<\/p>\n

One of Atkins\u2019 proposals includes allowing SEC registrants to custody and trade both securities and non-securities<\/a> under one roof, a move he believes could streamline operations and reduce costs for investors. He envisions this as a step toward creating a \u201csuper-app\u201d that could integrate various financial services, making them more accessible.<\/p>\n

Atkins concluded his address with a promise to prioritize innovation, stating, \u201cWe are getting back to our roots of promoting, rather than stifling, innovation.\u201d He expressed optimism about the SEC\u2019s future direction and its potential to enhance the market for investors.<\/p>\n

\"Crypto\"<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In a significant address aimed at revitalizing the relationship between regulators and the cryptocurrency market, new US Securities and Exchange Commission (SEC) Chair Paul Atkins outlined his vision for a more constructive regulatory environment.\u00a0 Trust Deficit Between SEC And Crypto Industry Speaking to capital markets on Monday, Atkins criticized the previous administration\u2019s \u201cregulation by enforcement\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27595","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27595"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27595\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}