New York – The Bag and Securities Commission is still seeking to formalize an “exemption of innovation” so that companies are based on digital assets and other innovative technologies in the US, potentially as soon as at the end of the quarter, said the president of the agency, Paul Atkins.
Although he acknowledged that the current closure of the government had “paralyzed” the ability of the SC to advance in the elaboration of rules, Atkins said that working on this exemption remains its priority for the end of the year or the first quarter of 2026, he said in an event Futures and Derives Law Report organized by the law firm Katten Muchin Muchin Rosenman LLP in the center of Manhattan on Tuesday.
The president of the SEC opened with one of his choruses now common: that cryptocurrencies are the “first job” and the agency has become a pro-initiation that seeks to encourage developers and entrepreneurs to build in the US.
“As you know, we have had at least four years of repression of that industry, and with the result of pushing things abroad, instead of innovating,” Atkins said during a panel with former sec commissioner, Troy Paredes.
The agency intends to initiate the elaboration of norms at the end of 2025 or during the first quarter of 2026, he said, depending on what happens with the current closure of the US government.
“We’ll see where I go, but I have confidence [we’ll] We can do it, “he said on the panel.
The search for formal cryptography regulation would finally place the agency beyond the regulation by application used in the previous administration or the informal guidelines and notes of the personnel used so far in this.
During a question and answers session with later journalists, he said that the exemption, which promoted last month, is something that he hoped to have “square.”
“That is one of the main priorities to try to achieve it because I want to welcome innovators and make them feel that they can do something here in the United States, so that they do not have to flee to some foreign jurisdiction.”
The current government closure is hindering the agency’s work, ATKINS said.
While there are “essential tasks” that the agency can assume, the elaboration of standards, including cryptocurrency regulations, is in pause.
Market Structure Bill
Atkins praised the work of Congress to approve laws that address cryptocurrencies during their panel, pointing out the genius law centered on stable currencies, although he pointed out that the SEC did not have an important role in that bill.
“The structure of the market is an issue in the bill, so we will see where you are going,” he said. “I am optimistic.”
The speakers of a previous panel were less sure that a market structure bill leaves the Congress, at least before 2025 ends.
Summer Mersinger, Executive Director of the Blockchain Association Industry Pressure Group and former commissioner of the Futuro Commerce Commission, said it gave the bill 51% or 52% possibilities of approved this year.
Greg Xethalis, partner and general advisor of the Multicoin Capital Risk firm, said that legislators should be thanked for their work in the bill, while Chris Perkins de Coinfund said he did not believe that the bill would be approved.
Stable coins
The Genius Law, the first important bill focused on cryptocurrencies that becomes law in the US.
Xethalis said that much of what will happen next from the developer front is plumbing.
“Now that the treasure rules are being written for the Genius Law, we will see a Cambrian Explosion of people who really begin to use these things on a day -to -day basis,” he said, noting that Visa integrates the USDC in their payment tools as an example of how people could already be “indirectly.”[ing] Crypt. “
Similarly, Mersinger said that the use of stable currencies could continue to grow, pointing out the guarantee in fund transfers and other types of financial contracts.
