PANews June 4 news, according to Cointelegraph, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins said at a Senate Appropriations Committee hearing that the agency will turn to developing cryptocurrency policies through a "notice and comment" process rather than shaping rules through law enforcement actions. Atkins said the SEC will use its existing authority to develop "fit-for-purpose standards" for market participants and emphasized that "clear rules are essential for investors to prevent fraud."

Atkins pointed out that establishing a "rational regulatory framework for crypto assets" will be a key priority during his term. The SEC Crypto Working Group is developing regulations that "meet industry needs and allow innovation" and is expected to release its first report in the coming months. At the same time, Atkins has applied to Congress to dissolve the Fintech Innovation Center (FinHub) established in 2018, believing that innovative concepts should be integrated into the overall structure of the SEC.