Bitcoin. Yonhap News Agency.

The U.S. Securities and Exchange Commission (SEC) has officially announced plans to reform its cryptocurrency policies, according to Reuters and other media outlets on the 4th (local time).

The U.S. SEC will establish rules related to the issuance and sale of digital assets within the next few months.

It also stated that there is a possibility of applying exceptions for cases where rules do not need to be followed, along with safe harbor provisions that provide a penalty-free protection when only specific conditions are met in cases of regulatory uncertainty.

Furthermore, the SEC will review rule amendments to allow digital assets to be traded on national securities exchanges or alternative trading systems (ATS).

This is interpreted as the SEC moving away from its previous punitive-oriented policy towards the cryptocurrency industry, aiming to clarify regulations on cryptocurrencies and accommodate industry demands to some extent.

In a statement, SEC Commissioner Paul Atkins said, "The agenda (to be pursued) includes potential regulatory proposals related to the issuance and sale of virtual asset securities, with the aim of clarifying the regulatory framework for virtual asset securities and providing greater certainty to the market."

He added, "A key task during my tenure is to establish clear rules for the issuance, custody, and trading of virtual asset securities, while simultaneously cracking down on bad actors engaging in illegal activities."

He also stated, "This regulatory agenda signals a new dawn for the SEC," and that "the matters included in the agenda reflect the commission's renewed focus on supporting innovation, capital formation, market efficiency, and investor protection."

In July, Commissioner Atkins had foreshadowed a shift by stating, "Most virtual asset securities are not securities," reversing the SEC's previous policy, and promising, "We will not stifle innovation with unnecessary regulation."

Local media reported, "If such policies are implemented, it is expected to be a significant victory for the cryptocurrency industry," adding, "The industry has long demanded customized rules that enable integration with traditional finance."

Yonhap News Agency