[Bitcoin Now] US SEC Officially Announces Cryptocurrency Policy Overhaul: "A New Day Begins"

According to reports from Decrypt and other digital asset media outlets on September 4 (local time), the U.S. Securities and Exchange Commission (SEC) has officially announced plans to overhaul its cryptocurrency policy.

Reuters Yonhap News

The SEC stated that it will establish new rules regarding the issuance and sale of digital assets within the coming months. The agency also indicated the possibility of introducing exceptions allowing certain cases to be exempt from the rules, as well as implementing a safe harbor provision that would protect entities from penalties if they meet specific conditions when the application of the rules is unclear.

Additionally, the SEC will consider revising its regulations to allow digital assets to be traded on national securities exchanges or alternative trading systems (ATS). This move is interpreted as a shift away from the SEC's previous enforcement-focused approach toward the cryptocurrency industry, aiming instead to clarify regulations and partially accommodate industry demands.

In a statement, SEC Commissioner Paul Atkins said, "The upcoming agenda includes potential regulatory measures related to the issuance and sale of cryptocurrency assets, with the goal of clarifying the regulatory framework for these assets and providing greater certainty to the market." He continued, "A key task during my term is to establish clear rules for the issuance, custody, and trading of cryptocurrency assets, while also cracking down on bad actors who engage in illegal activities."

He added, "This regulatory agenda signals a new era for the SEC," and explained that the items included in the agenda reflect the Commission's renewed focus on supporting innovation, capital formation, market efficiency, and investor protection.

Commissioner Atkins had previously signaled a change in July, stating, "Most cryptocurrency assets are not securities," and reversing the existing SEC policy by promising not to stifle the industry with unnecessary regulation.