US SEC Considering Innovation Exemption For DeFi

The US securities regulator is working on an “innovation exemption” to stoke the creation of more onchain products and services, according to Securities and Exchange Commission chair Paul Atkins.

Atkins, a former crypto lobbyist, said during a Monday crypto roundtable led by the SEC’s crypto task force titled DeFi and the American Spirit that he has directed staff to consider a conditional exemption relief framework. 

Exemptions could speed up innovation

These temporary exemptions would relieve firms from specific regulatory requirements to foster innovation in emerging tech sectors, provided they meet certain conditions.

Atkins said it would speed up the process of bringing onchain products and services to market while the SEC staff considers amendments to the Commission’s rules and regulations.

“An innovation exemption could help fulfill President Trump’s vision to make America the crypto capital of the planet by encouraging developers, entrepreneurs, and other firms that are willing to comply with certain conditions to innovate with onchain technologies in the United States,” he said.