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In us ’10 years behind ‘in crypto, fixing it’ job one ‘

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During a recent event in Washington, DC, US Securities and Exchange Commission (SEC) chair Paul Atkins said the United States is a decade behind crypto and addressing the issue is a priority for the regulator.

During DC Fintech Week Event on Wednesday, Atkins He said that the United States is “probably 10 years behind” in cryptocurrency. “The crypto aspect is our job,” he said.

Atkins said the SEC aims to “build a strong framework to actually attract people to the United States who might be fleeing.” The agency wants this framework to allow innovation to thrive.

“I like to say that we are the Securities and Innovation Commission now,” he paused.

Exceptions for modification

Atkins explained that developing appropriate crypto regulation is part of the “embrace of innovation,” and the The SEC is working full-time on crypto regulation. He hinted at an “innovative shift” to allow experimentation with new ideas.

“We at the SEC with respect to our statutes have pretty broad authority for exemptions to be made, and I think we can be, you know, very forward-leaning on that to accommodate new ideas,” he said.

Atkins pushed superapps

Atkins spoke highly of the concept of “SuperApps,” integrated financial platforms that combine payments, investments and other services in a single interface, suggesting that they can drive innovation if properly orchestrated. Developing such apps, largely inspired by Chinese giants including WeChat, has long been an ambition for US companies, but no Western superapps have yet emerged.

However, increased US regulatory support may tip the balance in favor of developing such services. In September, the Atkins declared support for platforms It offers multiple financial services under a single regulatory framework.

During the event, Atkins also said that “thinking about regulatory coordination as an app in and of itself is very smart.” He said it is also a way to organize the various regulatory agencies. Atkins did not explain how the SEC might pursue such coordination, but said the agency intends to make the US a home for crypto innovation, not an afterthought.