US Securities and Trade Fee (SEC) appearing Chairman Mark Uyeda has emphasized the need for a clear regulatory framework for the Crypto industry. Recently Washington D.C. Uyeda demanded new rules under Trump Management in Sec Crypto Process Power Roundtable held in. This statement comes at a time when Paul Atkins is going to take responsibility for SEC’s new Chairman Submit. If you Sec process power If you want more information about, you can click on the link.
Crypto regulatory framework requirement
Mark Uyeda highlighted the differences between SEC and Crypto Trade. He made SEC vs howey co. of 1946 Referring to the case, he said that there is disagreement to recognize Crypto as “securities”. He said that since the release of Bitcoin Whitepaper by Satoshi Nakamoto 17 years ago, market participants, advocates, academics, strategy makers and regulators are facing important questions regarding this new Crypto Assets. UYEDA also mentioned that in the last few years, SEC has filed various cases against crypto companies, including Binance’s former CEO Changpeng Zhao (CZ) and Mamals filed against Ripple.
Mark Uyeda suggested during this period that instead of only doing penal action in crypto space, this industry should be guided by creating new policy and regulations. He said this especially in the context of the cases raised during the tenure of SEC’s Former Chairman Gary Gensler.
Regulatory transparency and new process required
Mark Uyeda also said that SEC should adopt formal rulmaking process to classify the crypto assets under Federal Security Law. He said that following the “notice-end-comment” rules and the release of the Commission’s ideas clearly can bring more transparency and climax for the Crypto industry. This method, which makes the SEC rules the process of making more public, can help clarify the condition of the crypto. If you want to know that What is cryptocurrencySo by going to the link, you can read our article related to it.
Conclusion
This statement of SEC Executive Chairman reflects the need for a clear regulatory direction in the Crypto industry. Through this, it indicates that SEC now wants to guide the Crypto Community under transparency and clear rules rather than adopting a punitive attitude towards crypto. If steps are taken in this direction, it can provide a stable and secure environment to the crypto market. It will now be seen how the new Sec Chairman Paul Atkins handle the issue and offer which new set of policy for Crypto.
