In a historic watershed move for the digital asset industry, the U.S. Securities and Exchange Commission (SEC) has formally proposed amendments to Exchange Act Rule 15c2-11.
The initiative aims to explicitly exempt Bitcoin (BTC) and other crypto assets from the regulations governing quotations in over-the-counter (OTC) markets that have traditionally applied to equity securities.
The main fact lies in the redefinition of the obligations of stockbrokers (broker-dealers). Under the new direction of the SEC, led by President Paul Atkins, the goal is to decouple Bitcoin and cryptocurrencies from the regulations for which they were originally designed. To prevent fraud in low-ranking stocks (penny stocks).
This change is being driven by a new institutional philosophy, the recognition that cryptocurrencies should not be forced to fit into the legal framework created for traditional financial assets.
“Regulations need to be appropriately tailored to the asset class to which they apply,” Atkins said. As you can see, the proposal “clarifies the regulatory obligations for publishing quotes and confirms the prior understanding that Rule 15c2-11 applies to stocks.”
This position marks a departure from the previous government’s tendency to “regulate through enforcement.” Indeed, as documented by CriptoNoticias, this was a scenario in which the SEC forced companies in the Bitcoin and crypto space to comply with rules that were technically impossible to enforce due to their decentralized nature.
The proposal would change the scope of Rule 15c2-11 to refer only to stocks. In this way, financial intermediaries No longer subject to rigorous information collection and review protocols of estimates when working with digital assets.
This process is open and transparent. After the proposed amendments are published in the Federal Register, there will be a 60-day comment period for market participants and the public to express their opinions. This adjustment is very important because it shows: SEC doesn’t view Bitcoin through the same lens as corporate activitieseliminates the ambiguity that has hindered innovation in this field for many years.
With this measure, U.S. regulators aim to establish a clearer and fairer operating environment. By confirming that “these rules were not made for crypto assets,” the SEC promotes technological sovereignty and Bitcoin market efficiency without sacrificing the protection investors need.