SEC Previews Cryptocurrency Market Regulation Direction
"Revising Regulations That Hinder Innovation, Including ICO"
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SEC Chairman Paul Atkins explained that he would announce an initiative outlining the direction of cryptocurrency market regulation in response to recent presidential working group recommendations.
Project Crypto included provisions to introduce a licensing system in the cryptocurrency market and support active operations of cryptocurrency companies, including Initial Coin Offerings (ICO).
He reported that they are considering a method for cryptocurrency brokers to offer various cryptocurrency products with a single license.
Chairman Atkins emphasized that companies starting in the cryptocurrency industry, including ICO, should not be afraid of SEC regulatory enforcement. He added that cryptocurrency self-custody should also be legally protected.
Chairman Atkins stated, "Many of the committee's existing regulations do not match the current era, so some of the committee's existing regulatory provisions should be revised to promote industry growth."
Meanwhile, Chairman Atkins said it is urgent to establish criteria for separating cryptocurrencies into securities and commodities in accordance with the presidential executive order.
Previously, on the 30th, the Trump administration released a report containing policy recommendations for cryptocurrency regulation in the United States. The report included broad areas such as ▲market structure ▲jurisdiction classification ▲bank regulation ▲strengthening dollar hegemony through stablecoins ▲cryptocurrency taxation.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
