Washington, DC-The Stock Exchange and Securities Commission of the United States could consider a short-term cryptographic supervision framework to allow companies to continue innovating while the agency generates a more permanent response to the regulation of digital assets, the interim president Mark Uyeda suggested during an event on Friday at the agency headquarters in Washington.
“We should consider if there may be a more efficient regulation method under a federal regulatory framework,” said Uyeda, in a statement recorded at the last round table of the agency’s cryptographic industry. “While the commission works to develop a long -term solution to address these problems, a conditional and limited exempt help framework for the registers and non -registers could allow greater innovation with blockchain technology within the United States in the short term.”
The Securities Regulator is waiting for Congress to deliver a cryptography market structure law that will allow you to start writing the rules that the digital asset sector has been crying out. That can happen as soon as later this year, according to the legislators who work in that effort, but the months will spend before their arrival and even more time for the SEC and other relevant federal agencies to write regulations and implement them.
During this second in a series of cryptographic round tables, the agency organized while reviewing its position of digital assets, Uyeda still directed the agency, although the incoming president, Paul Atkins, is ready to take charge. However, once he arrives, Uyeda and his partner Republican commissioner Hester Peirce, a cryptography defender, will continue on board.
Republican commissioners noticed the interest of cryptographic platforms in the management of the activity and businesses traditionally regulated from the SEC out of the reach of the agency, all under the same roof.
“What can we and should do in the short term, and what should Congress consider in the long term to ensure that regulatory gaps are filled as companies are increasingly looking for the commercial activity of values and non -scrutinies?” Peirce asked, who leads the Crypto task force of SEC.
The only democratic commissioner of the SEC, Caroline Crenshaw, argued that some of the market interruptions and failures of the company in the recent past have forced industry observers to be “painfully aware of the lack of coincidence between the expectations of investors and reality.”
“The encryption trade platforms are unique because, among other reasons, they often perform multiple services under the same roof, sometimes including cleaning and custody,” Crenshaw said. In traditional finance, such functions “usually perform separate registered entities” because they come with a “high risk of conflicts of interest and risks to investors.”
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