U.S. SEC Chair: Plans to Streamline Regulation, Promote Cryptocurrency Legislation, and Reduce Costs

ChainCatcher News, the Chairman of the U.S. Securities and Exchange Commission (SEC) testified before the House Financial Services Committee, stating that three major initiatives will be implemented to “Make IPOs Great Again” and reduce regulatory burdens, including: streamlining disclosures based on materiality, reducing politicized issues at shareholder meetings, and providing listed companies with alternative litigation mechanisms. He emphasized that the federal regulatory framework for crypto assets is “seriously lagging,” supporting Congress in passing the CLARITY Act, and working with the CFTC through “Project Crypto” to develop token classification and on-chain transaction exemption schemes.

At the same time, the SEC is conducting a comprehensive review and cutting costs for systems like the Consolidated Audit Trail (CAT), lowering the PCAOB budget and commissioner salaries, and cracking down on offshore manipulation and fraud through cross-border enforcement, reaffirming that protecting investors and enhancing market efficiency are core missions.