Key Takeaways
Picture this: The SEC chair, with the suave flair of a seasoned raconteur, suggests we toss the regulatory labyrinth and adopt a sleek, streamlined “super-app” regime for all your crypto escapades-trading, lending, staking, and the rest of that alphabet soup.
Our dashing protagonist, Paul Atkins, the head honcho of the U.S Securities and Exchange Commission (SEC), has declared from his velvet throne that most “crypto tokens are not securities” – yes, you heard it, darlings, not securities! It’s almost like telling your mother-in-law her fuss is unnecessary. Capital can now sashay onto the blockchain catwalk without tripping over red tape.
At the chic OECD soirée in France on 10 September, Atkins quipped with a twinkle in his eye,
“And we must allow for ‘super-app’ trading platform innovation that increases choice for market participants.”
In layman’s terms-or rather, in the language of high society-these “super apps” are your one-stop digital emporiums where you can trade, stash, lend, borrow, and stake all your digital treasures without breaking a sweat or your bank.
A push towards regulatory clarity
Our charming chair fancies that these super apps and all their dazzling tricks should be subject to a single, elegant regulatory corset-slim enough to reduce entrepreneur indigestion. He declared,
“I believe regulators should provide the minimum effective dose of regulation needed to protect investors, and no more…We should not overburden entrepreneurs with duplicative rules that only the largest incumbents can bear.”
At present, every little crypto ballet-be it trading, custody, payments, lending, or staking-is treated like a separate debutante ball, each with its own set of tiresome protocols.
Hence, Atkins’ pronouncement heralds a future where the dress code is simpler, the red tape thinner, and the approval process as breezy as a Savile Row stroll.
This charming prospect is part of the agency’s Project Crypto-the green light for financial markets to take their glamorous act on-chain, but with a clear script. Teaming up with the CFTC’s Crypto Sprint, these regulators promise to dish out regulatory wisdom in the coming weeks, much to the relief of those who prefer order over chaos.
Meanwhile, Congress dances on, pushing the Republican-crafted crypto market structure bill-but not without a little nudge-nudge, wink-wink from some Democrats wary of a tortoise-paced affair that might end up as dull as a rainy day at Ascot.
SEC Commissioner Caroline A. Crenshaw, playing the voice of reason in high heels, urges a more cautious approach. In June, she advised that one must “move slowly to get the rules right,”
“With issues this complex and stakes this high, it’s better to do it right than fast. We need to grapple with the tough questions through the legally sanctioned process of formal rulemaking.”
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2025-09-12 09:16