BitGet Law Director Hon NG spoke about the prospects for regulating cryptocurrencies in the United States

The Chief Law Director of the BitGet cryptocurrency exchange Hon NG appreciated the potential shift of the US Securities and Exchange Commission (SEC) regarding the supervision of the digital assets sector. He talked about the consequences for global regulation and the Bitget compliance strategy.

According to the expert, the latest reports of personnel permutations in the SEC unit, which is enforced by cryptocurrency legislation, may indicate the beginning of a long -awaited turn towards more active interaction with the industry. The expert noted that in the end this will lead to the creation of a more transparent legal framework for digital assets in the United States. This decision suggests itself for a long time and is supported by many representatives of the industry.

According to NG, this shift gives SEC the opportunity to again take a key position in the formation of global digital assets regulation standards. “Although the commission is moving towards a more clear definition of the rules for supervision and control over cryptocurrencies, an immediate review of approaches should not be expected,” the specialist noted.

He emphasized that the recent statement by Commissioner Hester M. Pierce indicates the desire for greater clarity, but the SEC is still ready to apply coercive measures if necessary.

Hon NG assured that in the role of a global cryptocurrency exchange that restricts the registration of users from the USA, Bitget carefully monitors the changes in American regulation. At the same time, the leadership of the trading platform is simultaneously focused on compliance with all regulatory requirements in jurisdictions where it conducts its activities.

Recall that from the moment Donald Trump came to power in the United States, the attitude to the cryptocurrency sector has changed. The head of the SEC Gary Gensler left his post, and the commission, with the support of the government, initiated the creation of a new working group. She took up the development of detailed legislation for the digital assets industry.

Author

Peter Ivanov