BlockBeats News, May 9th - Securities and Exchange Commission (SEC) Chairman Paul Atkins highlighted in a public speech that the focus in the future will be on the on-chain financial market. The SEC's existing regulatory framework struggles to fully adapt to protocols driven by automation and smart contracts. Clear guidance will need to be provided through rulemaking, including a reassessment of the applications of "trading platforms," "broker-dealers operating on a trading platform," and "clearing agencies" in an on-chain setting, as well as securities law and adviser law issues regarding "crypto custodians." Paul Atkins also expressed support for a limited innovation exemption pathway and called on Congress to pass the Cryptocurrency Market Structure Clarity Act (CLARITY Act) to provide long-term certainty through legislation. Atkins warned that overregulation or uncertainty could push innovation overseas, and the U.S. should lead the global market through understanding and adaptation.

When discussing AI, Atkins noted that although artificial intelligence is unprecedented in scale, it is essentially a tool for expanding capabilities throughout history. It can enhance risk management, broaden investor access, but attention must be paid to issues such as opaque models and systemic risks. The SEC will adhere to the principle of holding companies responsible for tool usage and will not mandate specific models or solidify existing technology.

According to PolyBeats monitoring, the probability of the Cryptocurrency Market Structure Clarity Act (CLARITY Act) coming into effect this year on the prediction market Polymarket is 75%.