SEC gears transform on encryption

The Securities and Stock Exchange Committee has made the largest supporter of Kalakpta until this week. On Thursday, the President of SEC Paul Atkins launched “Project Crypto”, a comprehensive road map for the committee’s approach to organizing encrypted currency.

The goal of the project, According to TakinsIt is to make the United States a “world of encryption capital” through the distributions of cold encryption assets.

Atkins hopes to do this by updating the committee’s rules and regulations related to the software systems on the chain, and encouraging experimentation with new technology such as “distinctive symbol”, and opening the door to re -classifying most of the encryption assets as an investment contract instead of safety. The plan also aims to encourage decentralized financing initiatives that operate without intermediaries and “superior applications” that merge the ability to pay with other jobs such as social media (one example is Elon Musk vision To convert x to “apply everything”).

It is a great departure from SEC’s previous approach to encryption during the era of former President Gary Ginsner, who became the general enemy in the first encryption industry due to his strict organizational approach.

Atkins keen on the hammer at this point.

“It is a new day in the Supreme Council of Education and we pick up the glove and the challenge that President Trump has developed,” he said. CNBC Friday.

Trump pushed the legitimacy of encryption

Gary Ginsler’s approach to Chervir as SEC was less “Laissez-FAIRE” and more concentrated on compliance. In an attempt to protect investors, the Gensler administration insisted that codes codes are largely considered securities and thus are covered under the current legal framework and require full detection and SEC registration. This made it particularly rough for decentralized financing initiatives. During the Jensler era, the Supreme Education Council launched a wave of lawsuits against coding such as Coinbase and Binance, claiming that it is working outside the law.

The encryption industry considered that this is the organizational transgression and claimed that it was paying the American Crypto Innovation abroad.

Trump, who ran in a supportive campaign in the 2024 presidential election, although he was skeptical day, claiming that Chevir was “Kan”.A disaster awaits its occurrenceOnce again in 2021.

One of the first Trump regions in the aftermath of the opening was the establishment of a federal working group, headed by Amnesty International and TV David David. That group has just released Report 160 pages On Wednesday, the details of the policy recommendations.

Trump has recently signed the law GeniusA draft law that defines the first federal regulatory framework for Stablecoins, a type of cryptocurrency designed to be less volatile than traditional forms by linking it to US dollars.

The verb of the genius was huge Wins For the encryption industry, allow banks, credit federations and other institutions to issue Stablecoins.

Although ATKINS ‘SEC and Trump Administration as a whole, they have a era of organizing encrypted currency with some consumer protection, the road map remains because it involves minimal red tape. The focus instead focuses greatly on legitimacy to technology on the chain in the financial system.

This appears to be: a large group of major companies that accelerate to explore Blockchain projects. On Thursday, Jp Morgan Declare It will participate with Coinbase to allow the purchase of blades via credit cards chasing customers, and Bank of America CEO Brian Mounehan said earlier this month that the bank is planning to launch Stablecoin.

Mysterious water

Crypting fans are enlarged their ability to simplify financial operations by canceling brokers and saying that they help give anyone all over the world to reach financial accounts. They also praise the privacy and not to reveal its identity.

But it is clear that this comes with the negative aspects.

Critics view the encrypted currency as a threat to the financial system: it is also possible to use the same mechanisms that Crypto uses to simplify and increase access to financial services in money laundering, equal penalties, Fraud operations. According to the Federal Investigation Office, Americans lost more than $ 3.9 billion to about 150,000 coding plans in 2024 alone.

The encryption is also famous for its fluctuation, an accident exhibition, and it has been drowned in controversy, especially since Sam Bancan fried scandal.

Smred in Congress also indicates that the Trump administration’s organizational batch of legitimacy ignores a blatant problem: Trump Conflict in interests.

The Trump family runs several encryption projects, from Crypto Banking Platform World Liberty Financial that offer Stablecoin called USD1 to AnN Mimoz Empire and Bitcoin Mining Business Eric Trump was founded in its founding.

Not only the Trump family but The booming encryption empire in the cabinet Many looks at her Critics As a clarification of the lines between personal commercial interests and official policy. The regulatory measures taken so far can be considered as self -dealing.

“Trump is using the presidency to enrich himself through encryption, and he does this in the sight of the horizon,” said Senator Elizabeth Warren. Vanity Fair Last week.