U.S. Securities and Exchange Commission (SEC) Chair Paul S. Atkins addressed the regulatory direction for AI and blockchain financial markets at the AI+ Expo on May 8. According to ChainCatcher, Atkins outlined several regulatory initiatives aimed at blockchain markets, including establishing rules for defining 'exchanges' in blockchain trading systems, clarifying the applicability of broker and dealer definitions in blockchain activities, delineating the boundaries of 'clearing agency' definitions for blockchain clearing and settlement activities, and providing regulatory guidance for activities related to 'Crypto Vaults.'
In terms of AI regulation, Atkins emphasized that the SEC will not mandate the use of specific models by companies. Instead, the focus will remain on protecting investors, ensuring market fairness and efficiency, and promoting capital formation, with companies held accountable for the outcomes of their deployed AI tools.
Atkins also urged Congress to expedite the CLARITY Act for presidential approval, aiming to provide long-term certainty for the digital asset market through legislation. He warned that pushing innovation overseas could repeat the mistakes seen with FTX, ultimately harming U.S. investors.