SEC Chair: More Crypto Regulations Coming to Keep Market in the US

Odaily reports: US Securities and Exchange Commission (SEC) Chair Paul Atkins stated that the SEC will continue advancing regulation of cryptocurrencies and digital securities, and will introduce more rules to ensure the digital asset market stays in the United States.On October 2, Paul Atkins said the SEC's proposed crypto asset custody regulatory framework aims to update rules established in 1940 that only apply to traditional asset custody and safekeeping. The move comes after the US Senate failed to pass the CLARITY Act last month.He noted that the framework is part of the SEC's efforts to build a comprehensive crypto asset regulatory system starting in 2025, following earlier proposals including Regulation Crypto Assets and the Innovation Exemption, the latter of which would establish a 5-year sandbox allowing US equities to be traded on decentralized exchanges and with liquidity providers.John Reed Stark, former head of the SEC's Office of Internet Enforcement, believes the regulatory push exceeds the SEC's authority and bypasses congressional power. Paul Atkins stated that more regulatory proposals are coming and that he will continue to assist President Trump in promoting the US as the global capital of cryptocurrency. (Bitcoin.com News)