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SEC Chair: The U.S. Has "Missed Major Opportunities" in Crypto and Is Now Trying to Catch Up
On February 28, current SEC Chair Paul Atkins criticized former Chair Gary Gensler's tenure for "not attempting to adapt to innovation," stating that the U.S. has "missed major opportunities" in the crypto space and is now trying to catch up.
Paul Atkins said that since the Trump administration, the SEC has shifted to a more friendly industry stance, established a dedicated crypto task force, rescinded multiple enforcement actions against large institutions, and launched "Project Crypto" to update regulations. He emphasized the potential of distributed ledger technology in payment clearing and settlement, and revealed that the SEC has approved WisdomTree's 7×24-hour settlement tokenized money market fund, with plans to promote tokenized bank deposits in the future.