At a speech at the Economic Club of Washington, U.S. SEC Chairman Paul Atkins stated that the SEC is advancing reforms to its digital assets regulatory framework under an "A-C-T" strategy, including modernizing regulation, clarifying regulatory boundaries, and rebuilding the rule system. The SEC has already released a classification system for crypto tokens, categorizing digital assets into five types, four of which are not securities. The SEC is set to launch an "innovation exemption" mechanism to provide a framework for on-chain compliant transactions and has initiated Project Crypto to drive capital markets onto the blockchain. Last month, the SEC signed a memorandum of understanding with the CFTC to harmonize key definitions and coordinate joint regulatory matters. Paul Atkins noted that the U.S.'s previous regulatory approach had previously caused innovation to flow overseas.
SEC to Introduce 'Innovation Exemption' to Support On-Chain Tokenized Securities
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Summary
SEC news broke on Tuesday as Chair Paul Atkins announced the "Innovation Exemption" to support on-chain developments. The SEC is advancing its "A-C-T" strategy to modernize digital asset regulations, clarify boundaries, and reshape the regulatory framework. A new token classification system divides assets into five categories, with four not classified as securities. The agency also launched Project Crypto to bring capital markets on-chain and signed a memorandum of understanding with the CFTC last month. Atkins stated that outdated rules had driven innovation overseas.
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