Paul Atkins, President Donald Trump’s nominee to steer the U.S. Securities and Trade Fee (SEC), lately addressed the Senate Banking Committee on March 27, calling for a transparent and supportive framework for the cryptocurrency market.
He stated, “Since 2017, as I’ve led trade efforts to develop finest practices for the digital asset trade, I’ve seen how ambiguous and non-existent rules for digital belongings create uncertainty available in the market and inhibit innovation.”
Atkins stated {that a} high precedence of his chairmanship will likely be to work together with his fellow commissioners and Congress to supply a agency regulatory basis for digital belongings by way of a rational, coherent, and principled method.
He criticized outdated guidelines that block innovation and stated imprecise insurance policies have undermined investor confidence. Atkins vowed to create a framework that encourages development, expertise, and investor safety, aligning with Trump’s imaginative and prescient for international management in digital belongings.
“It’s time for the SEC to return to its core mission that Congress set out for it: investor safety; truthful, orderly, and environment friendly markets; and capital formation,” he added.
Atkins, a former SEC commissioner and present CEO of Patomak International Companions, opened up concerning the want for regulatory readability within the quickly rising digital asset house.
“I’m desirous to get to work for American markets and buyers. Ought to I be confirmed, my aim will likely be to make sure that the US is the perfect and most safe place on the earth to do enterprise and for Individuals to speculate their hard-earned {dollars} to avoid wasting and supply for his or her future,” he defined.