The U.S. Securities and Exchange Commission (SEC) has announced the creation of four roundtables aimed at addressing key issues in the cryptocurrency industry.
These panels, which will focus on topics such as trading, cryptoasset custody, tokenization, and the decentralized finance (DeFi) ecosystem, represent a significant shift in the SEC's regulatory strategy, which has been known until now for its strict approach to the sector.
The first of these meetings has already taken place, focusing on the regulation of digital assets, a key issue for ensuring security and trust in the crypto ecosystem. Furthermore, amid this effort to foster dialogue between regulators and the crypto industry, the possible approval of Paul Atkins as SEC chairman, who could bring a more pro-innovation perspective.
BUY BITCOINA shift in the SEC's regulatory strategy toward cryptocurrencies
The SEC has historically taken a harsh approach to cryptocurrencies, which has created tensions with the industry. However, the organization of these roundtables suggests a shift toward a more collaborative stance.
"These meetings are a unique opportunity for industry leaders, legal experts, and regulators to share their perspectives and work together to define policies that foster innovation and protect investors.", he pointed Recently, Hester Peirce, SEC commissioner and leader of the agency's Cryptocurrency Working Group.
The organization of these roundtables, led by Peirce, comes at a time when a lack of regulatory clarity has been a significant obstacle to the sector's growth. Many crypto companies and projects have expressed frustration with the legal uncertainty, which has hindered investment and the growth of innovation.
However, with these roundtables, the SEC seeks to establish a constructive dialogue that will allow regulations to be adapted to market realities without stifling the development of the digital ecosystem.
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The first roundtable: The state of digital asset regulation
The SEC has already held its first meeting, focusing on the current state of regulations for the digital asset industry in the United States. During the session, which was titled “How We Got Here and How We Get Out”, various topics related to the application of securities laws to digital assets were explored.
Participants agreed that a lack of regulatory clarity has been a significant obstacle to innovation and development, emphasizing the critical need to establish clear regulatory approaches for cryptoassets, seeking to balance investor protection with fostering industry innovation. Key issues such as the classification of digital assets and the limitations of existing securities laws in addressing decentralized technologies were also addressed.
This first meeting marked a shift in the SEC's approach, deviating from the previously more restrictive stance taken under Gary Gensler.
PREPARE YOUR WALLETKey Topics at Upcoming SEC Roundtables
In addition to the need for general regulation, the upcoming meetings will address other critical issues for the crypto industry, which is seen as a unique opportunity for the industry and regulators to work together on policies that benefit everyone.
According to the SEC agenda, trading and commercial activity in the crypto market will be discussed at the meeting. “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading”, scheduled for the April 11. The agency and stakeholders will then discuss self-custody of cryptocurrencies at the meeting. “Know Your Custodian: Key Considerations for Crypto Custody”, April 25.
The next SEC meeting with key players in the cryptocurrency industry will be on 12 May, to discuss tokenization and the potential of this disruptive innovation in financial markets, at the meeting entitled “Tokenization – Moving Assets Onchain: Where TradFi and DeFi Meet”. Finally, the SEC will hold the fourth and final meeting of this agenda presented on 6 June, to discuss decentralized finance, at the round table called “DeFi and the American Spirit”.
TRADE WITH STABLECOINSAmid this dialogue, the possible approval of Paul Atkins as SEC chairman is eagerly awaited. Known for his pro-market approach, Atkins could bring a more favorable perspective to innovation in the US crypto sector.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
