The top regulatory authority for American crypto markets, SEC, has said that it is mulling over some rules that would alleviate the control that is being exerted on cryptocurrencies. This is good news for the crypto ecosystem that has suffered substantial blows after recent crashes. The Luna debacle which happened not too long ago has made crypto enthusiasts and the public dubious about the future of crypto. The American crypto realm that has been facing indecision over tightening crypto laws will also benefit from this.
SEC has highlighted transparencies with regard to crypto trading and lending. What can be expected in the near future is improving efforts focused on consumer-friendly policies revolving around cryptocurrencies. There will also be clearer protection-centered clauses mapped out under crypto legislation for those who deal with brokers. These are the areas where they will develop consumer-centric tenets for safeguarding their interests. Other than this, there aren’t any big changes coming imminently that would disrupt the already-struggling crypto ecosystem.
Organised efforts are being made to develop a channel of communication and eventually a good relationship with these 3 crypto entities. SEC has said they’ve extended invitations for communication already and called them to discuss the fine print of the rules being formulated. Their primary priority is amplifying investors’ access to complete information related to crypto activities. This will help them avoid miscreants in the industry and gravitate towards authentic players. SEC is also gearing up to collaborate with the American regulator CFTC who oversees derivate markets and has been a key player in monitoring crypto affairs in the US. Overall, clearer guidelines are in the works to dispel the confusion that’s been looming over the American crypto environment.