US SEC Proposes Regulatory Agenda with Significant Implications for Digital Assets
The chairman of the US Securities and Exchange Commission (SEC), Paul Atkins, has published a regulatory agenda that contains proposed rules that could significantly impact how the agency deals with digital assets. The proposed rules, announced on Thursday, are part of the SEC’s spring 2025 agenda and include around 20 proposals. Although each proposal varies in its potential effects on the crypto industry, many suggest that the commission will continue to refine its enforcement approach, establish safe harbors, and restructure existing regulations for digital asset projects.
Key Proposals in the SEC Agenda
The proposed rules in the SEC agenda include “certain exceptions and safe harbors” related to the offer and sale of crypto assets, as well as changes to the exchange law to consider trading with crypto assets on alternative trading systems and national securities exchanges. These changes could enable crypto companies to operate with less regulatory oversight and reduce the risk of legal action. Additionally, the proposals suggest changes to the rules for the financial responsibility of “broker-dealers,” which could reduce the burden on crypto companies’ reporting requirements.
Impact on the Crypto Industry
For many in the crypto industry, the rules for broker-dealers have been a point of contention due to the requirements for knowing customers and anti-money laundering in networks, often without the means to collect such data. However, the proposed rules of control are notable, indicating that the SEC’s framework is being “modernized” to accommodate cryptocurrencies. The Commission proposed that the Investment Advisers Act of 1940, which defines regulations for custody, be “improved” to address crypto assets, less than eight months after a proposed change of control that had suggested putting digital assets under stricter guidelines.
Although the rules are proposed as part of the Atkins agenda and the SEC conference, they must go through an extensive process before acceptance, including a public commentary period and a review. Since the resignation of former SEC chairman Gary Gensler on January 20, many of the commission’s decisions have been under scrutiny, with conclusions of years of investigations and complaints, as well as statements indicating a potential shift in assertiveness. As SEC chairman, Atkins has the authority to interpret the rules and guidelines of the Commission for crypto.
Read more about the SEC’s proposed regulatory agenda and its potential implications for the crypto industry at https://cointelegraph.com/news/sec-revamp-crypto-rules-proposed-agenda?utm_source=rss_feed&utm_medium=rss_tag_regulation&utm_campaign=rss_partner_inbound
