Altcoins News
By Jean-Luc Maracon
1 / 15
Four Areas Atkins Wants Fixed. Atkins zeroed in on how the SEC should handle on-chain trading systems.
2 / 15
Industry Response and Token Movement. Chervinsky's group didn't hold back. They said Atkins' approach treats on-chain clearing and…
3 / 15
What It Means for DeFi. The proposals hit at the core tension in crypto regulation.
4 / 15
Hyperliquid's policy arm came out swinging for SEC Chair Paul Atkins last Friday. The group praised his four-point plan to bring on-chain markets under clearer regulatory rules.
5 / 15
Jake Chervinsky's Hyperliquid Policy Center said Atkins gets it. The chair wants to map blockchain systems onto existing securities law without forcing old categories onto new…
6 / 15
Atkins zeroed in on how the SEC should handle on-chain trading systems. He wants the agency to clarify how its definition of "exchange" applies when there's no central order book.
7 / 15
He also tackled broker-dealer regulations. On-chain interfaces blur the line between software and traditional brokerage.
8 / 15
Clearing agencies got attention too. Atkins wants the SEC to define what "clearing agency" means when settlement happens on a blockchain.
9 / 15
Then there's crypto vaults. Atkins described these as on-chain apps that let users earn yield by deploying assets into various opportunities.
10 / 15
Chervinsky's group didn't hold back. They said Atkins' approach treats on-chain clearing and settlement as the major financial innovation it is.
11 / 15
Atkins wrapped up by calling on Congress to pass the CLARITY Act. He thinks SEC rulemaking helps, but statutory language offers stronger protection against future regulatory…
12 / 15
HYPE traded at $42.98 when the news dropped, up 2% in 24 hours. That's still 27% below the token's all-time high of $59 from last year.
13 / 15
Related: SEC Targets Onchain Trading Platforms and Crypto Vault Custody in Regulatory Push
14 / 15
The proposals hit at the core tension in crypto regulation. On-chain systems don't have CEOs to haul before Congress. They don't have compliance departments.
15 / 15
His innovation pathway idea could matter a lot. Right now, protocols either operate in regulatory gray zones or avoid U.S. users entirely.
The Currency Analytics
Want the full story?