The SEC plans to introduce an “innovation exemption” by the end of the year to streamline approval for digital-asset products, SEC Chair Paul Atkins announced. This exemption would provide temporary relief for crypto companies from older securities regulations while tailored regulations are developed, promoting innovation in the industry.

Atkins discussed the recent approval of the first multi-asset crypto exchange-traded product (ETP) in the US, offering investors access to Bitcoin (BTC), Ether (ETH), XRP, Solana (SOL), and Cardano (ADA). The product launched under the SEC’s new generic listing standards, which aim to expedite the approval process for ETFs and encourage the introduction of new products to the market.

As SEC Chair, Atkins has been a strong advocate for digital assets and innovation in the financial sector. He launched “Project Crypto” in July to modernize securities rules around crypto and support the growth of America’s financial markets. Atkins has expressed a more lenient stance on defining digital assets as securities compared to his predecessor, Gary Gensler, highlighting the evolving landscape of crypto regulations.

Read more at Cointelegraph: SEC chair Paul Atkins pushes ‘innovation exemption’ for crypto products