Hope for Better Relations Between Crypto and SEC
The crypto industry is looking forward to improved relations with the SEC under the leadership of Paul Atkins. His 90-day plan aims to establish clearer regulations, reduce unnecessary lawsuits, and eliminate outdated rules. This approach could rebuild trust between the SEC and the crypto community while fostering innovation. The next three months will be critical for shaping a fairer regulatory framework.

Support for the Crypto Industry from New SEC Leadership

Paul Atkins, a well-known advocate for cryptocurrencies, could bring significant regulatory changes. This shift could lead to clearer rules and better communication between the SEC and the crypto sector.

The Digital Chamber emphasized in its statement: “The digital asset sector seeks to operate responsibly, and the SEC must recognize this to support a transparent and productive ecosystem.” The group urges the need to build mutual trust.

Criticism of the “Regulation by Enforcement” Approach

The SEC has faced criticism for relying on regulation through enforcement measures. This strategy has caused confusion and hindered innovation. The Digital Chamber calls for more transparent rules to create a fairer market environment and encourage business growth.

90-Day Plan for Crypto Reform

Token Alliance has presented a 90-day plan aimed at changing how the SEC approaches cryptocurrency regulations. Key proposals include:

  • Reviewing ongoing investigations, Wells notices, and lawsuits.

  • Pausing legal actions that do not involve fraud or investor harm.

  • Removing outdated rules, such as the Howey test for digital assets or the "Hinman Speech."

  • Establishing clear and consistent rules to replace existing confusion.

This approach could remove barriers stifling innovation and restore investor confidence.

Addressing the Impact of SAB 121

One of the issues addressed in the plan is the Staff Accounting Bulletin 121 (SAB 121), which requires companies holding cryptocurrencies to report them as liabilities. Token Alliance warns that this rule pushes investors to foreign markets and creates unnecessary risks.

A New Approach Under Atkins

With Paul Atkins taking the reins at the SEC, a shift is expected compared to the policies of his predecessor Gary Gensler. Atkins is likely to collaborate with commissioners Hester Peirce and Mark Uyeda, who have been critical of previous regulatory measures.

Promise of Collaboration

Positive signals also come from recent discussions between the Token Alliance and commissioners Peirce and Uyeda. Both commissioners expressed interest in working with the crypto industry, which the crypto community sees as a good sign.

What Will the Coming Months Bring?

The next 90 days will determine whether the SEC can create an environment that is friendly to the cryptocurrency sector and establish a balanced regulatory framework that fosters innovation and trust.


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