SEC Chairman Paul Atkins Addresses Insider Trading and Cryptocurrency Regulation
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins recently discussed the regulator’s role in combating insider trading and its approach to the rapidly growing cryptocurrency market.
Insider trading has been a focal point for the SEC, with Atkins acknowledging a decrease in high-profile cases in recent years. However, he also expressed concerns about inadequate regulation, particularly within the cryptocurrency sector.
Atkins emphasized that fraud is fraud, reiterating the SEC’s commitment to protecting investors, facilitating capital formation, and ensuring market efficiency. He highlighted the SEC’s active involvement in monitoring the cryptocurrency market to uphold this mission.
During the discussion, Atkins highlighted instances of organized trading activities among investor groups through private channels, drawing parallels to market manipulation tactics from the 1920s. He assured that the SEC closely monitors such activities to maintain market integrity.
Furthermore, Atkins emphasized the evolving communication landscape between companies and investors, noting the significance of social media and podcasts in disseminating information alongside traditional platforms. He underscored the importance of fair access to information in ensuring market transparency.
Addressing inquiries about regulations on stock transactions by members of Congress, Atkins mentioned the limited impact of the “STOCK Act” and revealed that the SEC is diligently reviewing numerous reports on the matter. However, he refrained from commenting on specific cases.
Disclaimer:
*This content is not intended as investment advice.