SEC new chair Atkins announces new direction for cryptocurrency regulation, stating it will promote innovation rather than suppress it

ChainCatcher news, according to Cointelegraph, the new chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated in a speech on May 19 that this is a "new era" for the cryptocurrency industry.

Atkins pointed out that "the crypto market has been stagnant in the SEC's regulatory gray area for years," and emphasized that under his leadership, the SEC will return to its fundamental mission of "promoting rather than stifling innovation." He has instructed the commission's various policy divisions to begin drafting rule proposals related to cryptocurrencies while continuing to "clear obstacles" through staff-level statements.