BlockBeats News, May 20th: According to the official website, Securities and Exchange Commission (SEC) Chairman Paul S. Atkins testified before the House Financial Services and General Government Appropriations Subcommittee on May 20th. He stated that SEC will prioritize enhancing regulatory transparency and accountability, especially in the digital asset sector. He emphasized that SEC should conduct rigorous cost-benefit analysis when formulating rules to avoid excessive regulation that may negatively impact market innovation.
Paul Atkins also pointed out that SEC will strengthen its cooperation with Congress to establish a reasonable regulatory framework for the cryptocurrency market. This is to ensure that its regulatory activities align with legislative intent and to adopt a cautious approach to digital asset regulation to avoid hindering technological progress. He stated that SEC will continue to fulfill its mission of protecting investors and maintaining market integrity while promoting the healthy development of the financial markets.
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