The American Commission for Securities and Exchange examines the care rules for digital assets, including the way in which brokers, asset managers and investment advisers can manage cryptocurrency transactions, its chief said on Friday.
The president of the SEC, Paul Atkins, speaking of his Crypto project program on Fox Business on Fox Business, said that the agency “mobilized the dry all our various divisions and offices” to implement the recommendations of the cryptographic group of President Donald Trump to make the United States a more suitable nation in the United States. This includes the adjustment of the rules “that have existed for about 90 years,” he said.
“We don’t want cryptographic assets to be on a flash reader in someone’s drawer,” he said on Friday. “They must be in a secure place … The reason to do all of this and respond to these various regulations is to provide some certainty to people.”
The work of the SEC will be based on the legislation adopted by the congress, he said, pointing to the law on engineering already signed and the legislative efforts of the existing market structure.
“Our goal is to obtain clarity and certainty,” he said. “It will be undergone by everything that comes out of the congress, but I believe that we have the power to move forward in these areas and to provide this certainty and this clarity for people.”
Asked about a district court decision on the costs of exchanging debit cards, Atkins said that he could support real-time or instantable payment networks, and the grip to instant payment regulations “would be ideal,” he said.
This type of payment could be reinforced using a blockchain, he said, although he also said that the system may need to have a kind of integrated delay to deal with errors.
“The longer it takes for a long time to have the authorization of certain transactions, the more risks there is in the system so that something goes wrong, a black swan event,” he said.
Join the political conversation of the Crypto September 10 at DC – Register now for Coindesk: Policy and regulations.
