United States Securities and Exchange Commission (SEC) Chair Paul Atkins called the federal regulator’s Division of Corporation Finance’s statement on liquid staking protocols a “significant step forward” on Tuesday.
Paul Atkins Praises SEC Liquid Staking Statement
In an August 5 statement, Atkins praised the SEC’s updated guidance, which claims that liquid staking activities do not constitute securities under certain circumstances.
“Under my leadership, the SEC is committed to providing clear guidance on the application of the federal securities laws to emerging technologies and financial activities,” Chairman Paul S. Atkins said.
“Today’s staff statement on liquid staking is a significant step forward in clarifying the staff’s view about crypto asset activities that do not fall within the SEC’s jurisdiction,” he added. “I am pleased that the SEC’s Project Crypto initiative is already producing results for the American people.”
Project Crypto Underway At SEC
Atkins’ commentary comes just days after the federal agency unveiled a new initiative called “Project Crypto” at the America First Policy Institute in Washington, D.C., last Thursday.
According to Atkins, the blockchain-focused initiative’s goal is to “modernize the securities rules and regulations to allow America’s financial markets to move on-chain.”
“The SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant,” Atkins said. “We are at a threshold of a new era in the history of our markets.”
The blockchain-oriented program stands in direct contrast to the agency’s previous regulation-by-enforcement approach to the digital asset sector and aligns with a more crypto-friendly White House.
Just last week, the President’s Working Group on Digital Asset Markets released its landmark report providing clear recommendations for federal agencies to construct policy frameworks conducive to digital assets.
Overall, Atkins’ remarks indicate a broader shift within the SEC toward regulatory clarity and innovation, aligning the agency more closely with the federal government’s evolving stance on cryptocurrency as a whole.
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