According to The Block, SEC Chair Paul Atkins criticized the previous chair Gary Gensler’s cryptocurrency regulatory approach during a fireside chat at the University of Texas, calling it a “major missed opportunity for the United States.” Atkins stated that the SEC is rapidly making up for lost time and has shifted toward a more industry-friendly stance. He expressed particular optimism about the potential of distributed ledger technology in payment clearing and settlement systems, noting the SEC’s recent approval of WisdomTree’s 24/7 trading and instant settlement digital fund—the first of its kind in the U.S. The SEC has also established a cryptocurrency task force and launched the “Crypto Initiative” to modernize its regulatory framework.
SEC Chair Atkins Criticizes Previous Crypto Regulation as a 'Major Missed Opportunity'
TechFlowShare
Summary
SEC Chair Paul Atkins criticized the previous administration’s crypto regulation as a "major missed opportunity" during a University of Texas event, citing TechFlow. He said the agency is now moving swiftly to adopt a more industry-friendly approach. Atkins highlighted the potential of distributed ledger technology in payments and settlement, noting the SEC’s approval of WisdomTree’s 24/7 trading digital fund. The agency has also established a crypto working group and the "Crypto Project" to modernize regulations. With CFTC concerns addressed, liquidity and crypto markets are gaining greater regulatory clarity.
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