Summary
- Paul Atkins, an SEC commissioner, stated that new standards will be set in the virtual asset (cryptocurrency) market through new rulemaking rather than 'regulation by enforcement'.
- The SEC plans to establish new standards for market participants by utilizing existing rulemaking, interpretation, and exemption authorities.
- This change signifies the opening of a new era in the virtual asset market.
Paul Atkins, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated at the fourth virtual asset (cryptocurrency) task force roundtable that "a new era has opened for the SEC."
According to The Block, a virtual asset specialist media outlet, on the 12th (local time), he emphasized that "the SEC will no longer adhere to the 'regulation by enforcement' approach," and instead, "will set new standards for market participants by utilizing existing rulemaking, interpretation, and exemption authorities."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
