Trump’s SEC chair Paul Atkins said the agency is ‘stirring’ to update the caution, other guide
The US Securities and Exchange Commission looks at precautionary policies for digital properties, including how broker-dealers, asset managers and investment advisors deal with cryptocurrency transactions, his head said Friday.
Sec Chair Paul Atkins, who speaks of his recently announced Crypto Project in the Fox Business’ “Mornings with Maria” program, said the agency said that “mobilizing the SEC all our different divisions and offices” to implement President Donald Trump’s crypto working group recommendations to make the US more Crypto-Friendly. This includes adjusting the policies “for 90 years or so,” he said.
“We do not want the crypto assets to be in some flash drives in someone’s drawer,” he said Friday. “They need to be in a safe place … The reason for doing all this and responding to different regulations is to provide some certainty for people.”
The SEC’s work is based on the law passed by Congress, he said, pointing out the signed Genius Act and existing market structural efforts.
“Our goal is to gain clarity and certainty,” he said. “It is undergirded by whatever comes out of Congress but I believe we have the authority to move forward in these areas and provide certainty and clarity for the people.”
Question about a District court decision On debit card exchange fees, Atkins said it could support real-time or instant payment networks, and move towards instant payment repairs “would be perfect,” he said.
This type of payment can be strengthened by using a blockchain, he said, although he also said the system may need to have some kind of delay developed to address the mistakes.
“The longer it takes to have clearance in some of the transactions, the more risks are in the system for something to go wrong, some black swan event,” he said.
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