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SEC chair unveils push to reshore crypto innovation
SEC Chairman Paul Atkins details what he calls the agency’s most historic step yet on crypto regulation and expresses hope that the CLARITY Act will reach President Trump’s desk.
The Securities and Exchange Commission (SEC) is moving to give crypto companies a clearer path to raise capital in the United States as the agency seeks to bring crypto-asset investment and innovation back onshore while keeping activity under U.S. law.
SEC Chairman Paul Atkins joined FOX Business’ Cheryl Casone on “Mornings with Maria” to discuss the agency’s new crypto proposal, its exemptions and the broader push to make the U.S. the “crypto capital” of the world.
SEC Chair Paul Atkins unveils proposal to bring crypto investment back to the U.S.(Al Drago/The Washington Post/Bloomberg /
“Our regulation crypto assets that we’re calling it, that we’ve proposed is our most historic step yet to try to bring reality to the president’s call to make the United States the crypto capital world,” Atkins said.
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The proposal comes as Congress considers the CLARITY Act, which Atkins said he hopes will ultimately reach the president’s desk. The SEC is moving ahead with its own proposal and seeking public comment as it develops a regulatory framework alongside Congress’ work on the legislation.
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Atkins framed the proposal as an effort to reverse an exodus of crypto innovators and give companies more reason to develop products and raise money in the United States.
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“I think this is an important step to try to reassure, to bring back on to the United States shore, innovators whom we have over the past administration’s four year term, chased offshore, frankly, for them to develop their products and raise money abroad,” he said.
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He also argued that keeping investment opportunities in the U.S. matters because Americans can already move capital across borders online.
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“We can’t fool ourselves. American investors in the age of the internet can send their money anywhere. So we need to make sure that they can do it here in the United States under United States law,” Atkins said.
Source: www.foxbusiness.com