Over the weekend, newly minted SEC Chair Paul Atkins brought the hammer down. He says that the US is ten decades late in regulating cryptocurrencies. Are you catching up? That’s the agency’s most important job now.
Atkins said this at a New York blockchain event. He called for faster digital asset regulation. The hype alone lifted bitcoin above $107,000.
The atmosphere is fantastic for a business. This increases hopes of easier staking and DeFi utility. Still, experts say, changing things won’t happen overnight.
Get rid of the old hammer
Atkins supports a “innovation exemption.” This allows blockchain startups to experiment with concepts without all the regulatory burdens of a security. Just like an express avenue for early tests.
The next thing we have to do is define the token rules. Security rules might not apply to NFTs and utility tokens. Essentially, the SEC and the CFTC work together, and they divide their work.
Old enforcement costs marketplace businesses $2 billion. Since 2021, there have been over 100 such cases. Well, Atkins says that time is done.
Examine the SEC’s Spring 2025 agenda for clues on a regime for crypto sales.
But The Prices Go Up, And The Doubts Remain
Solana’s SOL price increased 8%, spurred by DeFi dreams. Ethereum staking rates ticked up ever so marginally. Assets under management in spot ETFs surged to $50 billion.
SEC’s Hester Peirce flags speed bumps. She says haste could breed errors. Watchdogs worry about user losses in hacks.
Alert regarding Project Crypto by WilmerHale. This will be basically moving US securities into the digital age.
Are you new to ETFs? SEC-approved crypto funds selection with our guide to benefit from it.
World Watches, US Scrambles
The MiCA from Europe raised $15 billion for stablecoins. 40% of the Asia Crypto flow goes to Singapore. According to The Block, Atkins advocates innovation.
At home? Such bills can be blocked by Congress, including FIT21. From DAO benefits in Wyoming to stringent licensing requirements in New York, states have gone in different directions.
Atkins hopes to set the first rules in November. Builders, get our Playbook: launching in the US in 2025.
BTCRepublic is searching for it now. Is it frozen only in talk or a real thawing? Give your opinion below.
This isn’t financial advice. Always do your own research.
