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SEC Chair Paul Atkins: “Crypto’s Time Has Come”
US regulator signals major shift with clearer rules, global cooperation, and support for crypto innovation.
A Break from the Past
For years, the US crypto industry faced what many described as a regulatory witch hunt. Companies struggled with unclear rules, heavy legal costs, and a constant risk of enforcement actions. According to SEC Chair Paul Atkins, this era is finally coming to an end.
Speaking at the inaugural OECD roundtable on global financial markets in France, Atkins acknowledged that the SEC’s previous approach drove innovation and investment away from the US. Many firms relocated to friendlier jurisdictions, while those that stayed spent millions defending themselves in court.
Quoting Victor Hugo, Atkins said, “An invasion of armies can be resisted, but not an idea whose time has come. And today, crypto’s time has come.”
Clearer Guidelines for Digital Assets
Atkins revealed that the SEC is preparing “clear and predictable” rules for digital asset service providers. He stressed that most cryptocurrencies will not be classified as securities, a move that could remove one of the biggest hurdles facing the industry.
With well-defined rules, startups and investors will be able to raise capital directly on blockchain networks without unnecessary regulatory bottlenecks. This approach, Atkins argued, will unlock growth while protecting market participants.
Building the World’s Crypto Capital
The SEC Chair also outlined a vision for the US to become the global leader in digital assets. However, he emphasized that this ambition will not come at the cost of isolation.
Atkins said the US is ready to collaborate with international regulators, particularly in Europe. He praised the European Union’s Markets in Crypto-Assets (MiCA) framework, describing it as a “comprehensive playbook” for regulating virtual currencies.
Such cooperation, he suggested, will help align global standards while fostering trust among investors.
Backing for Crypto “Super-Apps”
Atkins also announced support for the development of crypto super-apps—platforms that allow users to trade, lend, stake, and store digital assets under a single regulatory license.
According to Atkins, allowing investors and financial advisers to choose among multiple custody solutions will foster healthier competition and improve security. Such flexibility, he said, is essential for a maturing market.
AI and Blockchain: The Next Frontier
Looking to the future, Atkins highlighted the convergence of artificial intelligence (AI) and blockchain technology as a game-changing opportunity.
He argued that combining on-chain capital systems with AI-powered financial tools could accelerate market efficiency, reduce transaction costs, and foster the development of novel financial frameworks. Atkins described this merger as a crucial step in positioning the US at the forefront of global financial innovation.
Why This Matters
The SEC’s policy shift marks a turning point for crypto in the United States. Clearer rules, international collaboration, and support for innovation could transform the US into the global hub for digital assets—bringing crypto from the sidelines into the financial mainstream.
@ Newshounds News™
Source: The Crypto Basic
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Rex-Osprey Launches First Spot XRP ETF in the U.S.
The SEC’s green light allows XRP to join Bitcoin and Ethereum in the regulated ETF market.
Historic Launch for XRP
The Rex-Osprey Spot XRP ETF officially launches today, September 12, becoming the first spot XRP ETF available in the United States. The U.S. Securities and Exchange Commission (SEC) allowed the fund to proceed after completing its 75-day review without objections.
This ETF gives investors direct exposure to XRP tokens through traditional brokerage accounts, simplifying crypto investing for institutions and retail traders alike. By entering the regulated ETF market, XRP now stands alongside Bitcoin and Ethereum in offering mainstream, compliant access to digital assets.
From Delays to Approval
Just two days ago, the SEC extended deadlines for several other pending XRP ETF applications, citing the need for additional review time. That move reflected the agency’s cautious approach in vetting crypto-related investment products.
Yet today’s launch shows the regulator is ready to move forward with at least one XRP fund, signaling that momentum for broader ETF approvals may be building. For issuers awaiting decisions, Rex-Osprey’s success could serve as a precedent-setting case.
Institutional and Retail Boost
The introduction of an XRP ETF is expected to attract both institutional capital and retail participation. ETFs provide a familiar investment vehicle, reducing friction for those hesitant to directly buy and custody crypto assets.
Market analysts suggest that ETF-based exposure could deepen XRP’s liquidity, improve price discovery, and strengthen its role as a bridge asset in digital finance.
Why This Matters
The launch of the Rex-Osprey Spot XRP ETF marks a turning point for the token. After years of legal battles and regulatory uncertainty, XRP is finally gaining parity with Bitcoin and Ethereum in the ETF space. With more issuers waiting in line, today’s approval may signal the beginning of a wider wave of regulated XRP investment products.
@ Newshounds News™
Source: Coinpedia
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Coinbase Seeks Court Action After SEC’s Missing Gensler Texts Come to Light
Discovery of erased records fuels transparency battle between Coinbase and the SEC.
Texts Erased, Transparency Questioned
Coinbase has accused the US SEC of destroying nearly a year of text messages from former Chair Gary Gensler, urging a federal court to impose sanctions on the regulator.
The company says the lost records cut into its ability to scrutinize how the agency shaped its aggressive stance on cryptocurrencies under Gensler. The accusation came through in a Thursday filing in Washington, where Coinbase is backing litigation by History Associates, a research group that sought Gensler’s communications under the Freedom of Information Act.
Device Policy Blamed for Missing Records
An investigation by the SEC’s Office of Inspector General confirmed that Gensler’s messages between Oct. 2022 and Sept. 2023 were erased. The watchdog also found other senior officials may have lost records, raising broader concerns about the agency’s recordkeeping practices.
Lawyers for History Associates argue the SEC failed to hand over relevant records and allowed them to be wiped by a device policy that automatically deleted texts if a phone remained offline for more than 45 days.
For Coinbase, the missing period is critical—it spans Ethereum’s transition to proof of stake, FTX’s collapse, and a wave of enforcement actions against exchanges. Internal texts could reveal how the regulator debated strategies and when it chose to act.
Coinbase Seeks Judicial Action
In the filing, lawyers said the SEC failed to search text messages despite court orders requiring the production of “all documents and communications.” They argued that the omission violated discovery rules and could justify sanctions.
The dispute adds to months of friction between Coinbase and the SEC. The exchange has long accused the regulator of “regulation by enforcement” rather than providing clear guidance. By pressing the court to intervene, Coinbase aims to highlight what it sees as gaps in transparency and due process.
Consequences for Erased Messages
Legal experts note that courts take the destruction of potential evidence seriously, especially when records vanish after formal requests. Judges may impose sanctions ranging from ordering additional searches to limiting the SEC’s legal arguments. However, courts also weigh intent to determine whether the loss was deliberate.
Coinbase insists the regulator should face consequences, arguing that the SEC should not benefit from what it calls an avoidable loss of key communications.
Why This Matters
The missing Gensler texts strike at the heart of accountability for the SEC during one of crypto’s most turbulent years. A court ruling in Coinbase’s favor could force greater transparency from the regulator, while a decision to side with the SEC risks fueling industry skepticism over fairness and due process.
@ Newshounds News™
Source: Crypto News
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