While cryptographic markets plunged on Friday, a potentially historic change in regulation stole under the radar, the Wall Street Bernstein broker said on Monday in a research report.
In a speech that Bernstein analysts called “the most daring and transformative crypto vision ever exposed by a president of the dry dry”, the president of the Security and Exchange Commission), Paul Atkins, revealed “ Project Crypto ”, a digital initiative of the country for the digital era.
The initiative aims to revise American securities laws to adapt to digital assets, pursuing a wider thrust to make the United States a world center for cryptographic innovation.
At the heart of the plan is “reshaping”, Bernstein noted, bringing cryptographic companies to the United States after years of regulatory uncertainty have pushed them offshore.
The Commission intends to use its interpretative and exempt powers to modernize obsolete rules, ensuring that they do not suffer entrepreneurship or competition, according to the report.
In a lively overthrow of past dry messaging, Atkins said that most cryptographic assets are not titles.
He blamed the confusion around the Howy test to block capital training and is committed to introducing clearer standards for the categorization of digital assets, in particular basic products, stablecoins, collectibles and security tokens with governance and distribution rights.
Bernstein said the plan also lays the basics of the interior token of traditional assets such as actions and obligations.
Wall Street’s giants and technological unicorns already aligned, the SEC wishes to build the world’s largest securities market in the world, on American soil, added the report.
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