Donald Trump's crypto legacy in two words: Paul Atkins
Paul Atkins' appointment as SEC chair is seen as the key to establishing regulatory clarity for crypto via executive action.Summary
Despite the stalemate of the CLARITY Act in Congress, the Trump administration is using executive authority, primarily through the appointment of Paul Atkins as SEC Chair, to reshape the financial system for the crypto industry. Atkins, a veteran with experience in writing legally sound regulations, is expected to act swiftly, even without new legislation, alongside the CFTC chair Michael Selig to harmonize rulemaking. This coordinated agency action, reminiscent of the 1981 Shadd-Johnson accord, aims to provide the industry with the necessary legal foundation, potentially finalizing rules by next Spring. This regulatory framework, established through agency action rather than legislation, could become the de facto standard, allowing exchanges and new token enterprises to operate under clear supervision, thus giving the industry the whitespace it needs to grow.
(Source：CoinDesk)