Wayne Jones reports:
A report by the Financial Times revealed that the Securities and Exchange Commission (SEC) plans to issue crypto firms notices of technical violations before taking action.
The move is a shift away from the aggressive enforcement approach that was pursued under former President Joe Biden.
Trump-appointed SEC Chair Paul Atkins told the Financial Times in an interview in Paris that the agency would continue to pursue fraudsters but that there were “other gradations” that required notice. He criticized what he described as the SEC’s past habit of “bashing down doors” over minor violations, explaining that it would now stop treating technical mistakes with the same harshness.
Atkins believes that regulated businesses should have a chance to correct compliance issues before enforcement action is taken. He described his approach as an effort to fix what many saw as a lack of due process, proper notice, and rule of law in the commission’s work.
Read more at CryptoPotato.