U.S. SEC Chair Proposes Regulatory Streamlining, Crypto Legislation, and Cost Cuts

ChainCatcher report: At a hearing before the House Financial Services Committee, the SEC Chairman stated that he would reduce regulatory burdens through three initiatives to "Make IPOs Great Again," including: streamlining disclosures based on materiality, reducing the politicization of shareholder meeting agendas, and providing alternative dispute resolution mechanisms for public companies. He emphasized that the federal regulatory framework for crypto assets is "severely lagging," supported Congress in passing the CLARITY Act, and collaborated with the CFTC on "Project Crypto" to develop a token classification and on-chain transaction exemption framework. Meanwhile, the SEC is conducting a comprehensive review and cost reduction of systems such as the Consolidated Audit Trail (CAT), lowering the PCAOB budget and director compensation, and enhancing cross-border enforcement to combat overseas market manipulation and fraud, reaffirming its core mission of protecting investors and enhancing market efficiency.