The Supreme Education Council has just unveiled the “Project Crypto”: What you need to know

Atkins comes just one day after the White House was launched from 166 pages a report She determines her own approach to regulating the encryption industry, and a little more than three months of his work in leading the best financial organizer. Atkins has repeatedly indicated that he is planning to take a significantly different approach to regulating encryption from his predecessor, Gary GenysWhich was widely by industry.

In his speech on Thursday, ATKINS has set a series of priorities for SEC employees, including the formulation of “clear and simple rules for the different encryption behavior, including custody and trade, as well as allowing mediators such as exchanges to become” superior applications “that provide a wide range of services.

“When our organizational status is calibrated to meet innovation by thinking rather than fear, the position of leadership in America has become only stronger,” said Atkins.

New second

On Thursday, Atkins reflected a more clear overview of the agency’s new approach. It comes at a time when encryption dominates the main headlines Bitcoin Access Standard records Fortune 500 companies exploration Blockchain projects.

In his speech, Atkins detailed the best initiatives for his employees: re -encryption activity to the United States after many companies fled under Jinsler, updating the requirements of the Supreme Education Council custody of companies that want to keep digital assets, and allow companies to experience new types of chain technology, such as “symbol” of shares, or create Blockchain versions of assets such as stocks and money market boxes.

“Under my leadership, the committee will encourage the builders of our nation instead of restricting them in the red tape and the appropriate rules for all,” said Atkins.

The challenge facing the new president will be to set its own rules as Congress continues to discuss extensive legislation that would regulate the market structure of digital assets, which governs how cryptocurrencies can be issued and managed. While the House of Representatives approved its own version of the draft law, the Senate has not yet indicated its own approach.

A sharp break from the Jinsler era

Under Gensler, SEC created higher encryption companies like Coinbase and twinOn the pretext that they were working outside the laws of the long-term securities and providing threats to consumers-reaction, partly, on prominent collapses in projects such as Sam Bankman-Ried’s FTX in 2022.

The encryption industry by the Gensler campaign, by gathering hundreds of millions of dollars to support the group’s candidates in the 2024 elections, including Donald Trump, who embraced the sector on the campaign’s path and washed away in the office the promise of its administration employees with digital officials. Among them was Atkins, former SEC Commissioner who worked as a consultant for encryption projects after leaving the agency in 2008.

Even before Atkins performed the oath as head of the agency in April, the Supreme Education Council began to decline the ginseller behavior, with reflection. Under the leadership Commissioner Hester Pears, who adopted the title of “Mother of encryption” for its open position towards the industry. This included dropping a series of lawsuits against companies such as companies Coinbase and release Evidence at the agency level to engage in new rules.

The sympathizers with Gensler in the capital are already raising alarm bells that will lead to cryptocurrency in a new era of fraud and collapses like FTX. “As happened when (Atkins) was authorized at SEC from 2002 to 2008, the huge companies in Wall Street and the favorite companies will be protected while investors will be left to protect themselves.”