[Bitcoin Now] US SEC Formalizes Cryptocurrency Policy Overhaul: "A New Day Begins" (Comprehensive)

Chairman Atkins:
"Providing Greater Certainty to the Market"

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

Reuters Yonhap News

The SEC stated that it will establish rules regarding the issuance and sale of digital assets within the coming months. The agency also noted the possibility of including exceptions that would allow certain cases to be exempt from the rules, as well as the potential introduction of a safe harbor provision-a protective measure that would prevent penalties if specific conditions are met when rule applicability is uncertain.

Additionally, the SEC will consider amending 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.

SEC Commissioner Paul Atkins stated in a press release, “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 added, “A core task during my tenure is to establish clear rules for the issuance, custody, and trading of cryptocurrency assets, while also cracking down on bad actors engaged in illegal activities.”

He further emphasized, “This regulatory agenda marks a new era for the SEC,” and noted, “The issues included in the agenda reflect the Commission’s renewed focus on supporting innovation, capital formation, market efficiency, and investor protection.”

Previously, in July, Commissioner Atkins completely reversed the policy of the Joe Biden administration regarding one of the major controversies in the market-the security status of cryptocurrencies-by stating, “Most cryptocurrency assets are not securities,” and promised, “We will not stifle the industry with unnecessary regulations.” He pledged to realize the “golden age of digital assets” in the United States, as emphasized by President Trump, and announced plans to bring back digital asset companies that had moved overseas due to regulatory pressure from the previous administration.

The market believes that if the SEC’s cryptocurrency policy overhaul is implemented as announced, it will bring about significant changes to the overall investment environment. In particular, expectations are rising that the previously subdued investment sentiment-caused by uncertainty and regulatory risks-will become more favorable, encouraging greater market participation. Furthermore, as the industry’s long-standing calls for integration with traditional finance and entry into the institutional framework are likely to accelerate, the development of tailored rules is also expected to gain momentum.