SEC Chairman Paul Atkins, who is attracting attention for his pro-cryptocurrency stance, has made new statements regarding the cryptocurrency sector. He said an “innovation exemption” for crypto companies was introduced in January.
The SEC chairman said on CNBC’s Squawk Box that the agency will begin exempting crypto innovation in January.
Therefore, Atkins said the SEC plans to change the rules to reduce litigation risk and stimulate the IPO market.
The SEC earlier announced in September that it planned to introduce an exemption system by the end of this year aimed at streamlining regulations and allowing companies to introduce new products and services more quickly.
This exemption is therefore intended to provide a more flexible environment for crypto companies wishing to operate in the United States.
For now, the latest move is expected to reduce regulatory barriers for crypto companies, paving the way for faster growth and altcoin listings.
For the first time, the SEC’s Innovation Exemption will allow crypto projects to launch tokens and products more quickly without the need for full registration with the SEC. This means that cryptocurrency companies are exempt from certain regulations and can more easily launch innovative projects.
Under normal circumstances, U.S. crypto companies are required to comply with strict securities laws. This delays the development of new projects and causes many startups to relocate overseas.
Experts also point out that the SEC’s move is the biggest green light received by U.S. regulators for the crypto sector since the approval of Bitcoin ETFs.
*This is not investment advice.
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