Paul Atkins And SEC Leaders Prepare to Rewrite Electronic Currency Policy

While the United States is preparing for the incoming administration of President-elect Donald Trump, the Token Alliance of the Digital Chamber of Commerce has outlined a detailed advocacy program to reshape the Securities and Exchange Commission's (SEC) approach to digital asset regulation. Priorities were presented in meetings with SEC Commissioners Hester Peirce and Mark Uyeda with the aim of establishing a clear, transparent, and collaborative regulatory framework for the digital asset industry. Please provide the text to be translated. In addition, the Alliance recommends withdrawing proposed amendments to Rule 3b-16, to expand the definition of 'exchange platform' to include decentralized financial markets (DeFi). The Alliance argues that these amendments could impose impractical compliance burdens on emerging DeFi technologies. The resolution also calls for an immediate review of the ongoing SEC investigations, Wells notices, and digital asset-related litigation. By addressing these issues, the Alliance hopes to reset the contentious relationship between the SEC and the cryptocurrency asset industry in history. Another important proposal is to reconsider the rules for protecting deposit rights, including removing state-licensed banks and trustee funds from the eligible depositary status, a move that could undermine the organization's trust in cryptocurrency deposit solutions. One of the most urgent priorities is the removal of SAB 121, an accounting rule requiring custodial service providers to list customer assets on their balance sheet. The alliance believes that this rule poses unnecessary and complex accounting risks for digital asset companies. The person nominated by President-elect Trump for SEC Chairman, Paul Atkins, along with Commissioners Peirce and Uyeda, is in the process of assessing and addressing these concerns. The Token Alliance emphasizes the importance of replacing outdated policies, informal guidance, and enforcement-oriented regulations with formal regulations and actionable no-action letters. The proposed time frame for these changes lasts for the first 90 days of the new administration. The alliance has expressed optimism about the dialogue during the meeting, emphasizing the shared desire to rebuild trust between the SEC and the global digital asset community. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)