Early today, Paul Atkins, president of the United States Stock Exchange and Securities Commission, flatly reaffirmed his support for the cryptocurrency industry.
“And today, ladies and gentlemen, we must admit that: the time has come for cryptography,” Arkins said The OECD Round Table Audience in global financial markets.
Atkins recalled that he was working near the place of the Concorde in Paris in the 1980s, and, at that time, he says that “he could barely imagined” talking about new technologies that are now revolutionizing global finances.
To make this point, Atkins used the famous event by the French author and politician Victor Hugo about the idea whose moment has arrived.
In his main speech, Atkins talked about the “Project Crypto” initiative, which was announced In July. It has emphasized that the agency aims to modernize the laws of securities and provide regulatory certainty.
Get away from application regulation
Gary Gensler, the former president of the SEC, emerged as the Armenemia of the cryptocurrency industry due to his aggressive approach to “application regulation.”
Ankins has made it clear that the SEC is moving away from the Gensler approach, accusing its predecessor of trying to “subvert” the cryptocurrency industry. He has declared that Gensler’s policies were “harmful” and “ineffective”, accusing him of trying to subvert the cryptographic industry.
The majority of the Whip Tom Emmer house, a strong ally of the cryptocurrency industry, recently declared that Gensler will become “the worst chair of the SEC of history.”
