Summary of Developments

The U.S. Securities and Exchange Commission (SEC) recently issued a public agenda outlining its rulemaking direction, emphasizing initiatives focused on cryptocurrency. According to Chairman Paul Atkins, the goal is to establish clear regulations surrounding crypto assets, reflecting a pivotal moment for the industry.

Key Points:

• The public agenda reveals a shift towards substantial crypto-related regulatory efforts.
• Atkins notes the establishment of cryptocurrency regulations as a significant focus during his leadership.

As previously hinted at, Chairman Atkins is empowering his agency’s policy direction towards cryptocurrency, unveiling a program filled with proposed regulatory measures designed to clarify the legal environment for crypto assets, aiming to generate more certainty within the market.

“The agenda covers potential rule proposals related to the offer and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market,” Atkins stated. Translation: “El calendario abarca propuestas de reglas potenciales relacionadas con la oferta y venta de activos criptográficos para ayudar a clarificar el marco regulatorio para los activos criptográficos y proporcionar mayor certeza al mercado.”

The agenda sets an April timeline for suggesting regulations concerning the offering and selling of cryptocurrency assets, including various exemptions and safe harbors. It intends to propose another rule amending existing securities regulations to handle transactions involving digital assets on alternative trading systems and national securities exchanges.

Additionally, the SEC’s actions align with an industry-wide initiative to usher cryptocurrencies into mainstream finance, as highlighted in joint statements from federal regulators emphasizing clarity on handling spot crypto trading by registered platforms.

As part of what has been dubbed ‘Project Crypto’, the SEC seeks to facilitate its implementation of clearer rules while also discouraging illicit actions. The Commodity Futures Trading Commission (CFTC) is also actively pursuing rapid advances in these regulatory domains, expressing a commitment to meeting expectations set by the U.S. government’s leadership in cryptocurrency development.