SEC chair pledges no ‘lax enforcement’ on crypto under market structure

With market structure moving forward in the US Congress to establish clear roles for the SEC and CFTC over digital assets, Paul Atkins offered his thoughts on the bill.

US Securities and Exchange Commission Chair Paul Atkins spoke on how the regulator would handle enforcement of digital asset fraud under its “Project Crypto” initiative and legislation pending in Congress.

In prepared remarks for a speech on Wednesday at the Federal Reserve Bank of Philadelphia, Atkins provided details about the agency’s plans to modernize its approach to regulating digital assets.

According to Atkins, the agency plans to consider “establishing a token taxonomy” in the coming months, “anchored” in the Howey test — the standard by which the SEC evaluates securities — to recognize that “investment contracts can come to an end.”

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