SEC Chair Advocates for Super-App Platforms in Crypto Market Overhaul

The Chairman of the U.S. Securities and Exchange Commission (SEC) has voiced his support for super-app platforms within the cryptocurrency sphere, suggesting they could be a beneficial approach to regulating this rapidly expanding market. He indicated that these platforms, which integrate a wide array of financial services, have the potential to offer increased levels of transparency and accountability, thereby mitigating the risks associated with cryptocurrency trading. He emphasized the necessity of a clear and well-defined regulatory framework for these platforms to ensure investor protection and prevent market manipulation. He also underscored the importance of international cooperation among regulatory bodies to standardize practices and combat financial crimes within this sector. The SEC Chairman believes that this step marks a significant evolution in the regulatory path of the cryptocurrency market, and will contribute to enhancing trust in the market and attracting more investors.