Top US Securities Regulator Announces Sweeping Review of Crypto Oversight and Financial Disclosure: Report

The U.S. Securities and Exchange Commission (SEC) has revealed its upcoming rulemaking agenda, which includes extensive proposals to modernize cryptocurrency regulations and ease what many in the financial industry have called unnecessarily heavy compliance burdens, according to a new Reuters report.

The agenda, highlighted by SEC Chair Paul Atkins, who first mentioned these plans in July, includes potential new rules covering the offering and sale of digital assets.

These may incorporate specific exemptions and safe harbors, as well as clearer guidelines on how existing broker-dealer regulations apply to cryptocurrencies.

The SEC also plans to explore amendments that would permit cryptocurrency trading on national securities exchanges and alternative trading platforms.

SEC Chairman Paul Atkins said the agenda reflects a “new day” at the SEC, focusing on fostering innovation, capital formation, market efficiency, and protecting investors.

Additionally, the SEC intends to simplify disclosure requirements and reduce compliance obligations for public companies related to shareholder proposals, aiming to enhance transparency and alleviate regulatory burdens.

The report comes two days after the SEC released a joint statement with the Commodities Futures Trading Commission (CFTC) clarifying the two regulators’ stances on registered exchanges offering spot crypto exchange-traded products.

Said Atkins at the time,

“Today’s joint staff statement represents a significant step forward in bringing innovation in the crypto asset markets back to America. Market participants should have the freedom to choose where they trade spot crypto assets.

The SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets.”

Featured Image: Shutterstock/Annuitti/Natalia Siiatovskaia