SEC Chair Advocates for U.S. as Global Cryptocurrency Hub

According to BlockBeats, U.S. Securities and Exchange Commission Chair Paul S. Atkins addressed the inaugural OECD Global Financial Markets Roundtable, emphasizing a shift in the SEC's approach to cryptocurrency regulation. Atkins criticized the previous use of investigations, subpoenas, and enforcement powers, stating that these methods were ineffective and detrimental, driving jobs, innovation, and capital overseas. He declared that this era is now over, with the U.S. poised to become the world's cryptocurrency capital. Atkins highlighted that most crypto tokens are not securities and stressed the importance of clearly defining these boundaries. He underscored the need for entrepreneurs to secure on-chain financing without facing endless legal uncertainties. Furthermore, Atkins advocated for the innovation of 'super app' trading platforms to enhance market participant choices. These platforms should be able to offer trading, lending, and staking services under a unified regulatory framework. Additionally, Atkins called for the freedom of investors, advisors, and broker-dealers to choose from various custody solutions, aiming to foster a more flexible and accommodating environment for cryptocurrency activities.