SEC Chairman Emphasizes Clarity in Virtual Asset Regulation… "Will Encourage Innovation"

Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), has instructed policy departments to prepare draft rules related to virtual assets (cryptocurrencies).

According to the SEC website on the 19th (local time), Paul Atkins, SEC Chairman, stated in his speech at the 'SEC Speaks Conference' that "The SEC should not fear innovation. Rather, it should embrace and encourage it," and "I have instructed policy departments to prepare draft regulations related to virtual assets." He further emphasized, "Ultimately, the entire SEC must take responsibility for this issue and present clear regulations."

He also proposed, "SEC-registered companies should be allowed to store or trade securities and non-securities assets in one place," adding, "This could reduce investor costs and bring non-securities trading under federal regulation." Additionally, he noted, "In the long term, this could be the initial stage of realizing a super-app."

He particularly emphasized innovation within the SEC. Atkins stated, "The market is inherently ever-evolving," and "The SEC now aims to become an agency that encourages rather than suppresses innovation." He reiterated, "The SEC should not become an agency that hinders the market's autonomous innovation."

Finally, he conveyed his expectations for the future, saying, "The SEC has now ushered in a new day."