While Crypto Markets immersed himself on Friday, a potentially historical regulatory change flew under the radar, said Wall Street Bernstein corridor in a research report on Monday.
In a speech that Bernstein analysts called “the bolder and transformative cryptographic vision ever presented by a president of the SEC in the session”, the president of the United States Securities and Securities Commission (SEC), Paul Atkins, announced ‘Crypto Project’, a radical initiative to modernize the country’s outdated rules of the country for the digital age.
The initiative aims to review US values laws. To accommodate digital assets, continuing a broader impulse to make the United States a global center for cryptographic innovation.
Central of the Plan is “reinforcing,” Bernstein said, bringing cryptographic businesses back to the United States after years of regulatory uncertainty pushed them into the high seas.
The Commission intends to use its interpretive and exempt powers to modernize obsolete rules, ensuring that they do not suffocate business spirit or competition, according to the report.
In a strong investment of the messaging of the past, ATKINS said that most cryptography assets are not values.
He blamed the confusion around the Howey test to stop capital formation and promised to introduce clearer standards to classify digital assets, including basic products, stablecoins, collectibles and security tokens with governance and distribution rights.
Bernstein said the plan also establishes the basis for domestic token of traditional assets such as actions and bonds.
With Wall Street giants and already aligned technological unicorns, the SEC wants to build the largest tokenized stock market in the world, on American soil, the report added.
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