The SEC chairman calls for regulatory reform of Crypto Assets and promises to establish a "reasonable regulatory framework" for digital assets.

On May 13, SEC Chairman Paul Atkins announced a plan to modernize encryption regulations at a crypto roundtable, aiming to solidify the United States' position as a blockchain innovation hub and to support the development of the digital asset market with reasonable regulation, rather than hindering innovation with unpredictable enforcement actions.

SEC Chairman Atkins proposed a Crypto Assets reform agenda, covering three aspects:

·On the issuance side: Aiming to simplify the compliance of encryption asset issuance, expand legal custody options, and improve modern trading frameworks, while considering exemptions for crypto assets, safe harbors, and disclosure guidelines for the issuance.

·Custody aspect: Support the revocation of restrictive announcements, clarify the definition of "qualified custodian," and develop custody rules to adapt to self-custody and industry best practices.

·In terms of trading: support brokers and proprietary traders to provide comprehensive services, considering conditional exemptions to accommodate new products.

At the same time, in response to President Trump's call to make the United States the "Crypto Assets Capital of the World," SEC Chairman Atkins warned that innovation may flow out unless the SEC adapts.

He also praised the Crypto Assets working group led by Mark Uyeda and Hester Peirce for breaking down internal silos and providing rapid regulatory guidance for the entire institution.

Atkins emphasized that SEC rules must balance investor protection and innovation, with anti-fraud enforcement remaining a priority. Regulation will return to focusing on violations rather than replacing policy with enforcement "intention." At the same time, the SEC will continue to formulate rules, provide guidance, and promote inter-agency coordination, striving to make the United States a leader in tokenized financial infrastructure.

However, this reform plan also faces numerous challenges. Firstly, the complexity of Crypto Assets and their decentralized nature make regulation exceptionally difficult. Secondly, finding a way to protect investors' rights without stifling innovation is also a key issue that the SEC needs to address.

In addition, other major economies around the world are actively formulating their own Crypto Assets regulatory policies, and whether the reforms in the United States can maintain competitiveness globally is also an unknown.

What do you think of Atkins' reform plan? Do you believe the SEC's new regulatory framework can balance innovation and investor protection? Leave your views in the comments!

#SEC # Crypto Assets #Regulatory Reform