U.S. SEC moves ahead with cryptocurrency regulatory overhaul… "Easing disclosure burden"

The U.S. Securities and Exchange Commission (SEC) is moving forward with a regulatory overhaul of cryptocurrencies.

The SEC on the 4th (local time) unveiled plans for regulatory reform over the coming months. One of the core elements of the plan is cryptocurrencies. SEC Commissioner Paul Atkins said in a statement that, "the agenda includes potential rule proposals related to the issuance and sale of cryptocurrencies" and that this is "to clarify the cryptocurrency regulatory framework and provide greater certainty to the market."

Atkins emphasized "resolving regulatory uncertainty." Atkins said, "As a commissioner, the key priority is to establish clear rules for the issuance, custody (custody), and trading of cryptocurrencies" and added, "the agenda also includes many proposals for regulatory easing." He added that this is "to reduce regulatory burdens and promote capital formation," and "also addresses revising existing rules to improve and modernize them and to ease disclosure burdens."

Expectations in the cryptocurrency industry are also growing. Reuters reported, "The cryptocurrency industry has long demanded tailored regulation that would allow cryptocurrencies to be closely connected with traditional finance," and "if such a policy is enacted, it would be a major victory for the cryptocurrency industry."