Blockchain Association Pushes SEC for Flexible Crypto Rules
- Main event involves SEC regulatory discussions on crypto with industry leaders.
- Focus on adaptable framework supporting technological growth.
- Potential influence on major crypto firms like Coinbase and Ripple.
The Blockchain Association seeks adaptable rules from the SEC, highlighting ongoing market evolution. Numerous firms, including Coinbase and Ripple, are backing this initiative. The proposal outlines a need for incremental regulatory changes, with Paul Atkins of the SEC expressing support for a progressive approach to crypto assets.
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Blockchain Advocates Rally for Incremental SEC Changes
Regulatory flexibility could stabilize large-cap assets like ETH and BTC, fostering an innovative market environment. Companies like Coinbase could benefit from a clearer regulatory path. Industry stakeholders see a chance for collaboration over enforcement, possibly reducing past uncertainties caused by stricter SEC actions.
We think it is important that the Commission take an incremental, flexible approach to regulating trading of crypto assets, recognizing that technology and market practices have and will continue to evolve… [The SEC] should avoid adopting rules, policies, or guidance that limits who can use blockchain technology or the use cases for the technology. – Blockchain Association
Past SEC Enforcement Impact on Crypto Markets Analyzed
Previously, aggressive SEC enforcement led to market turbulence. The current approach mirrors successful consultations seen in other markets, like the FCA’s practical guidelines. Data suggest a more collaborative SEC stance might yield supportive outcomes for the market, drawing on trends observed in global regulatory frameworks.
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