SEC Chairman: Will Develop a 'Rational Regulatory Framework' for Cryptocurrencies Instead of Taking Enforcement Actions

According to BlockBeats, on June 4th, Paul Atkins, the Chairman of the US Securities and Exchange Commission (SEC), is continuing to advance his reform agenda, committed to bringing a "new era" to the SEC and driving a shift in the agency's policy stance on digital assets. Paul Atkins testified before the Financial Services and General Government Affairs Subcommittee of the Senate Appropriations Committee on Tuesday, stating that he will be committed to establishing a "rational regulatory framework" for cryptocurrency, prioritizing rule making and transparency over relying on enforcement actions. He said, "Clear regulatory rules are crucial to protect investors from fraudulent behavior, as they can at least help them identify scams that are clearly illegal. Policy making will be done through a process of rule making through announcements and comments, rather than through enforcement and regulation