Crypto Token Prices Soar on SEC Innovation Exemption Promises

After a calamitous start to December and a notably poor past two months, crypto token prices roared to life today, bolstered by SEC Chair Paul Atkins' confirmation in a CNBC interview that crypto companies can expect an "innovation exemption" to be released within the coming months.

What's the Scoop:

• Atkins' Exemptions: In an interview with CNBC's Squak Box, SEC Chair Paul Atkins confirmed that his regulatory agency is working towards the publication of "innovation exemption" guidelines, which he expects to be released within the coming month(s).
• Twin Engagements: Following his CNBC interview, Chair Atkins gave a speech at the New York Stock Exchange, where he expressed a desire to reduce the amount of disclosures required by public companies and discussed a three pillar plan to "make IPOs great again."
• TradFi Take: Traditional financial firms appear warry about the prospect of an innovation exemption. In an open letter to SEC, the WFE (a trade group representing stock exchanges) warned that "broad use of such relief presents great risks to investors, market integrity, and competition, all of which have negative consequences for US markets."