SEC Chair: "Interpreting Bitcoin (BTC) as a Commodity Is the Starting Point for Regulatory Clarity"
Summary
- The U.S. Securities and Exchange Commission (SEC) said that, by presenting an interpretation that views Bitcoin (BTC) as a commodity, efforts to clarify regulation are now moving into full swing.
- SEC Chair Paul Atkins said the SEC’s interpretation of cryptoassets is only the beginning and that it will play a bridging role while Congress pushes to pass the market structure bill (the Clarity Act).
- He added that the SEC is moving away from past practices and is presenting clear standards on what is and is not a security.
Forecast Trend Report by Period
As the U.S. Securities and Exchange Commission (SEC) has put forward an interpretation viewing Bitcoin (BTC) as a commodity, an assessment has emerged that efforts to clarify regulation are now gaining momentum.
SEC Chair Paul Atkins said on X (formerly Twitter) on the 19th (local time) that "the SEC’s interpretation of cryptoassets (cryptocurrencies) 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 accommodate innovation, and strong enough to protect investors."
He also added that "the SEC is moving away from past practices" and that it "is laying out clear standards on what is and is not a security."
The remarks are seen as making the SEC’s role and direction in establishing a regulatory framework for cryptoassets more explicit.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
