The U.S. Securities and Exchange Commission (SEC) Chair, Paul Atkins, has revealed that the agency could unveil the innovation exemption rules for crypto firms by next month. He also commented on the commission’s efforts towards advancing the crypto market structure bill, even as the Trump administration continues to provide a regulatory-friendly environment for the industry.
SEC To Unveil Innovation Exemption Rules For Crypto Firms
During a CNBC interview, Atkins stated that the agency could move forward with the innovation exemption rules for crypto firms in the next month or so. This came as he commented on plans for the crypto industry as they work to embrace it and move away from the anti-crypto stance under the previous administration.
As CoinGape reported, the SEC chair first teased the innovation exemption rules in September, stating that they could finalize them by the end of this year. However, Atkins explained during the interview that the U.S. government shutdown, which lasted all through October and into November, derailed their plans as they couldn’t do anything during that period.
What Is The Innovation Exemption Rules About?
The innovation exemption rules will enable crypto firms to launch products faster, especially in the DeFi space. The SEC chair has previously noted that some current securities laws could hinder innovation in the crypto space.
As such, this move will enable these firms to obtain exemptions from these laws, pending when Congress passes the crypto market structure bill, which provides a broad legal framework for crypto regulation. Atkins also commented on the crypto bill, stating that they were assisting lawmakers with the technical aspects.
Plans To Kick Off Policies Next Year To Boost IPOs
The SEC chair also stated that the commission plans to implement policies next year to boost initial public offerings. This marks a positive for crypto firms such as Kraken, Grayscale, and BitGo that are looking to go public in the U.S.
Notably, Atkins will join Nasdaq’s CEO, Adena Friedman, for a discussion today on how to make IPOs great again. Meanwhile, he also teased a major speech today as he rings the bell at the NYSE, which could border on crypto regulations and the commission’s plans to create a more friendly regulatory environment for the crypto industry.
Source: https://coingape.com/sec-chair-reveals-innovation-exemption-for-crypto-firms-could-start-in-january/
