SEC Chair Atkins to Introduce 'Violation Notices' for Crypto Companies Before Lawsuits, Reports Say

Paul Atkins, the Chair of the U.S. Securities and Exchange Commission (SEC), has stated that the SEC will issue notices of rule violations to cryptocurrency companies before taking formal enforcement actions. This was reported by the Financial Times on the 15th. While the SEC will continue to rigorously prosecute those who commit fraudulent acts against investors, there will also be a stage where notices must be issued before proceeding to lawsuits. Atkins also criticized the SEC under the Biden administration, led by former Chair Gensler, for attacking companies first without basing actions on precedent or guidelines for predictability.