US Securities and Exchange Commission (SEC) Chair, Paul Atkins, believes that the emerging cryptocurrency sector calls for concise and comprehensive regulations. After recently returning to his position, Atkins made his initial comments advocating for effecient policies that lend clarity to cryptocurrency regulations. His appointment as the SEC chair comes at a time when the regulatory environment seems more receptive towards cryptocurrency, aligning with the revamped crypto guidelines of the current Trump Administration.
With April nearing its end, 2022 has already witnessed significant progress in cryptocurrency legislation in the US. Donald Trump’s administration has pursued a complete about-face on its previous policies by endorsing the growth of cryptocurrencies. The mention of clear cryptocurrency regulations by newly incumbent SEC Chair Paul Atkins only asserts the pro-crypto stance of the administration.
Atkins’s recent comments upon his return to the SEC criticizes the agency’s past approach, which he suggests hindered technological progression in the crypto sector by introducing “regulatory uncertainty”. According to a Reuters report, Atkins emphasized on clear regulatory standards for market participants involved in this technology.
Atkins’s participation in the SEC’s crypto roundtable Friday was marked with his optimism at making progress towards establishing a sensible framework pertaining to crypto assets. He also underlined the importance of collaboration with other members of Trump’s administration and Congress in this regard.
Being a long-time supporter of cryptocurrency, Atkins is keen to bring his pro-crypto approach to his position at the SEC. He looks forward to the “huge benefits” the emergence of digital assets will bring and has made cryptocurrency regulation a top priority during his chairmanship.