SEC Chair: Interpreting Bitcoin (BTC) as a Commodity Is the Starting Point for Regulatory Clarity
Summary
- SEC Chair Paul Atkins said interpreting Bitcoin as a commodity is the starting point for regulatory clarity.
- He said the SEC will serve as a bridge while Congress pushes to pass the market structure bill (the Clarity Act).
- He said the SEC is moving away from past practices by laying out clear standards on what is and is not a security.
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As the U.S. Securities and Exchange Commission (SEC) has put forward an interpretation that views Bitcoin as a commodity, officials say efforts to clarify regulation are moving into full swing.
SEC Chair Paul Atkins said on X (formerly Twitter) on the 19th (local time) that “the SEC’s interpretation of digital assets (cryptoassets) is only the beginning,” adding that it “will serve as a bridge while Congress pushes to pass the market structure bill (the Clarity Act).”
He stressed that “rules must be clear enough to guide markets, flexible enough to embrace innovation, and strong enough to protect investors.”
He also added that “the SEC is moving away from past practices” and that it “is providing clear standards on what is and is not a security.”
The remarks are seen as further clarifying the SEC’s role and direction as a regulatory framework for digital assets is established.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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