SEC Chairman Paul Atkins claims that the agency has substantial authority to regulate cryptocurrencies without needing new Congressional laws. His comments, made at a Washington crypto event, come as Congress debates potential legislation to clarify the SEC and CFTC’s roles. Atkins emphasised that clearer regulations are needed for the growing digital asset market.
The chairman of the US Securities and Exchange Commission (SEC), Paul Atkins, asserted that the agency has significant authority to regulate digital assets, even without additional Congressional legislation. Speaking at a crypto event in Washington, Atkins stated that there is plenty of room for the SEC to navigate the oversight of cryptocurrencies. His comments come amid ongoing discussions in Congress about a potential market structure bill for these digital assets.
The proposed legislation could clarify the roles of the SEC and the Commodity Futures Trading Commission (CFTC) regarding the regulation of the burgeoning crypto market. During his speech, Atkins acknowledged the value of having Congressional input, saying that a statutory backing would enhance their regulatory efforts. This statement reflects the current uncertainty over which agency should lead in overseeing the rapidly evolving asset class.
Atkins stressed the importance of clear guidance for the burgeoning sector, hinting at the desire for a structured approach to cryptocurrency regulation. As the debate continues in Congress, the landscape for digital asset oversight may soon become clearer.
Overall, Atkins’ remarks highlight a crucial moment in the regulatory journey for cryptocurrencies and underline the SEC’s commitment to asserting its authority in this space, despite the lack of new laws. The discussion around this topic is expected to continue as various stakeholders weigh in on the future of crypto regulation in the US.
