Quickly tracked short-lived regulatory framework of cryptocurrencies can strengthen innovations in the American cryptocurrency industry, while constant regulations are underway, says Mark Uyeda from securities and stock exchanges (SEC).

“Limited temporarily, conditional relief framework for registrains and non -registers can allow greater innovations thanks to blockchain technology in the United States in the near future,” Uyeda he said During the SEC round task table from April 11 entitled “Between the block and a difficult place: adaptation of the regulation of cryptographic trade”.

Aid means can meet direct challenges

Uyeda said that this could be a brief -term answer, because SEC works towards a “long -term solution” in a round table with SEC and cryptographic members, including Katherine Minarik from UniSwap Labs, Chelsea Pizzola from Cumberland Drw and Gregory Tusar Coinbase.

He satisfied the recipe for cryptocurrency trading as a problem, warning that this could lead to “mosaics of state licensing systems”.

Uyeda said that a favorable federal regulatory framework will soften the burden for market participants who want to offer tokenized assets of securities and incompatible with security, enabling them to act on the basis of one SEC license instead of navigation “fifty different state licenses”.

He called on the participants of the cryptographic market to share feedback on areas where “relief relief” may be appropriate.

Uyeda also repeated the benefits of blockchain technology on financial markets during a round table discussion.

“Blockchain technology offers potential to perform and remove securities transactions in a way that can be more efficient and reliable than current processes,” said Uyeda.

Uyeda to fill the position of the chair until Atkins is sworn in

“Blockchains can be used to manage and mobilize security in a tokenized form to increase capital and liquidity efficiency,” he added.

Uyeda will continue to act as the chairman of SEC, as long as US President Donald Trump’s candidate, Paul Atkins, officially sworn in.

On April 10, the US Senate confirmed ATKINS as the chairman of SEC in voting 52-44 mainly in the party.

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Uyeda served as the chairman of SEC from January 20, replacing the former chairman and skeptical crypt of Gary Gensler. He was widely perceived in the industry as a pro-cyptive lawyer.

On March 18, Cointelegraph announced that UYEA said that SEC could change or scrap the principle proposed as part of the Biden administration, which would tighten cryptocurrency standards for investment advisers.

“I asked SEC employees to work closely with the cryptocurrency task group to consider the appropriate alternatives, including its withdrawal,” said Uyeda.

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