SEC Chairman: The SEC should not fear innovation, but should embrace and support it.

Techub News, the U.S. Securities and Exchange Commission (SEC) released Chairman Paul Atkins’ speech at the SEC Speaks conference. Atkins said the SEC should not be afraid of innovation, but should embrace and support it. Previously, the US SEC had a negative attitude towards cryptocurrency regulation, first adopting an “ostrich policy”, and then switching to law enforcement first and then accountability, without building trust. Atkins shared that the SEC’s policy departments are drafting proposals for cryptocurrency-related rules, but staff are still “clearing the way” with employee-level statements, such as the FAQs issued by the Trading & Markets Department. While staff perspectives are not committee rules or regulations, they can provide useful insights to the public. Atkins would also like to want the Commission to allow SEC registrants to custody and trade securities and non-securities under the same roof. In addition, the SEC has requested congressional approval to reprogram funding to integrate the functions of the agency’s Center for Strategic Innovation and Financial Technology (FinHub) into other parts of the agency.