Wall Street broker Bernstein said in a research note on Monday that potential historical regulatory shifts fly under radar as cryptocurrency markets plummeted on Friday.
U.S. Securities and Exchange Commission (U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins unveils ‘crypto plan’ Promotional initiative In order to modernize the country’s outdated securities rules in the digital age.
The initiative aims to overhaul the U.S. Securities Act to accommodate digital assets and continue its broader driving force, making the U.S. a global hub of crypto innovation.
Bernstein noted that the plan is a “redesign” that brings cryptocurrency businesses back to the United States after years of regulatory uncertainty pushing them to sea.
The report said the commission intends to use its interpretiveness and immunity to modernize outdated rules and ensure they do not kill entrepreneurs or competition.
Atkins said in a sharp reversal in past SEC messaging that most crypto assets are not securities.
He blamed the Howey test’s archives caused capital formation and promised to introduce clearer standards to categorize digital assets, including commodities, Stablecoins, Collectibles and Security-light Sigkens with governance and distribution rights.
Bernstein said the plan also laid the foundation for domestic tokenization of traditional assets such as stocks and bonds.
The report added that as Wall Street giants and tech unicorns are already lined up, the SEC hopes to build the world’s largest marking securities market on U.S. soil.
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