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By Opalesque: As the crypto industry grows to a $3.5tln market, Paul Atkins' recent confirmation as SEC Chair could significantly shift the cryptocurrency regulatory landscape in the U.S., according to Carl Werner from international law firm Harris Sliwoski LLP.
Atkins, who previously served as an SEC commissioner under the Bush administration, has established credentials in the crypto space as co-chair of the Token Alliance since 2017. He personally owns between $1-6m in cryptocurrency and has pledged to make digital assets a key focus of his tenure.
Web3 advocates are optimistic about Atkins' appointment, Werner notes, particularly given the substantial political contributions (over $10m) that major crypto firms like Ripple, Kraken, and Coinbase made to President Trump's inaugural committee. The Trump administration has expressed ambitions to make the United States the "crypto capital of the world" and has established a strategic cryptocurrency reserve using forfeited assets.
Web3 is a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics.
Atkins' confirmation represents a potential departure from the "policymaking by enforcement" approach employed under previous SEC Chair Gary Gensler. Already, under Acting Chair Mark Uyeda, the SEC has dropped investigations into several crypto companies including OpenSea, Robinhood, and Coinbase. Uyeda established a...................... To view our full article Click here
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