SEC Continues to Pursue Crypto Regulation Framework Goal

The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, announced that they are maintaining their goal of creating a comprehensive framework for crypto regulations in Washington. Atkins emphasized the need for a clearer and more applicable structure for the digital asset market. He also praised the work of Patrick Witt, Executive Director of the White House Crypto Council, noting that his leadership has contributed to the U.S. gaining strength in the crypto space. He stated that the SEC will continue its efforts to create a prudent and comprehensive crypto market structure. Atkins' remarks came at a time when uncertainties surrounding the Digital Asset Market Clarity Act have increased. This bill aims to clarify the regulatory jurisdictional boundaries between the SEC and the Commodity Futures Trading Commission. The bill failed to reach the necessary 60 votes in the Senate on September 15, which weakened expectations regarding the clarification of the legal framework. Additionally, Atkins noted that the SEC is reshaping its approach to digital assets and that more rulemaking is needed for a permanent structure. Patrick Witt's departure has led to a new management change in the White House's digital asset policy team.

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