Jamie Selway, director of the SEC's trading and markets division, says it will rebuild market trust and advance "Project Crypto"

Digital assets operate on distributed networks, cryptographic proofs, consensus mechanisms, and automatic executable code, Jamie Selway, director of the Securities Exchange Commission's Division of Trading and Markets, said at the SIFMA Market Structure conference. Because these assets do not necessarily operate with a single entity or central intermediary, they are often referred to as "trustless" assets. However, trust is a cornerstone of our society and a core value of our industry. Under the leadership of Chairperson Atkins, one of the SEC's core priorities is to rebuild trust across the market. At the same time, the chairperson is also committed to expanding the market to include "trustless" digital assets - which hold great potential for innovation and efficiency.
Since this summer, the Department of Trading and Markets has engaged in extensive communication with various market participants on digital asset issues in various business areas such as primary issuance, secondary trading, custody, etc. Our goal is to provide advice to the Securities and Exchange Commission to help achieve "innovation without arbitrage space". As relevant policies are gradually updated to adapt to the development of digital assets, I believe that neither new entrants nor traditional institutions should be given additional advantages. We should not interfere with normal competition among commercial competitors, but should regard market forces as the ultimate arbiter of value.