Svmuu News: Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that the SEC is accelerating its pace of progress in the area of crypto regulation to address previous shortcomings in policy-making. Speaking at an event at the University of Texas, he noted that the regulator had previously failed to adapt in a timely manner to innovation trends in the industry. Atkins noted that since the Trump administration took office, the SEC has adopted a more open stance, establishing a crypto working group, withdrawing multiple enforcement cases, and launching “Project Crypto” to drive updates to the regulatory framework. He emphasized that the SEC is more focused on the application prospects of distributed ledger technology in payment, clearing, and settlement systems than on short-term price fluctuations. Additionally, the SEC approved WisdomTree’s digital currency market fund for 24/7 trading and instant settlement this week. Atkins also revealed that the agency will explore launching tokenized bank deposit products in the future. (The Block)