US SEC Chairman Announces Major Initiatives to Adapt to Cryptocurrency Development

PANews reported on August 1st that according to Reuters, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins announced a series of regulatory reform plans aimed at adapting to cryptocurrency and blockchain transactions at the American Policy Priorities Institute on Thursday (U.S. time). Atkins stated that he has instructed the Commission to develop criteria for determining whether crypto tokens are securities and to provide innovative exemptions and clear regulatory guidance for market participants. The newly established "Project Crypto" will promote the modernization of securities regulations and quickly implement the White House's recommendations for federal support for digital asset trading. To adapt to the trading of tokenized securities, the U.S. Securities and Exchange Commission may need to consider revising the National Market System Rules. This move is considered a major positive for the U.S. crypto industry and will accelerate the integration of crypto assets with traditional finance.