Today we charged Nader Al-Naji with perpetrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform called BitClout and its native token of the same name.
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1. “One might describe the SEC’s current executive compensation disclosure requirements as a Frankenstein patchwork of rules.”
- Chairman Atkins, from his remarks at today’s Roundtable on Executive Compensation Disclosure.
A thread🧵…
2. “Over the past ninety years, the Commission has adopted numerous rules requiring more and more information about executive compensation.”
3. “The volume and complexity of these rules may be just as scary to a law firm associate performing a ‘form check’ of a proxy statement, as the monster was to Dr. Frankenstein.”
Key points from Chairman Paul Atkins’ remarks today at “DeFi and the American Spirit,” SEC’s Crypto Task Force Roundtable on Decentralized Finance – a 🧵
The American values of economic liberty, private property rights, and innovation are in the DNA of the DeFi, or Decentralized Finance, movement.
The prior administration discouraged Americans from participating in blockchains by asserting through lawsuits, speeches, regulation, and threatened regulatory action that participants and staking-as-a-service providers may be engaged in securities transactions.
Chairman Paul Atkins' remarks at the Crypto Task Force roundtable on tokenization:
The topic of this afternoon’s discussion is timely as securities are increasingly migrating from traditional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger systems.
This movement of securities from off-chain to on-chain systems is akin to the transition of audio recordings from analog vinyl records to cassette tapes to digital software decades ago.
Just as the shift to digital audio revolutionized the music industry, the migration to on-chain securities has the potential to remodel aspects of the securities market by enabling entirely new methods of issuing, trading, owning, and using securities.
Chairman Paul Atkins' remarks at the Crypto Task Force Roundtable today:
I am in my fourth day back at the Commission and thank my fellow Commissioners and the SEC staff for their warm welcome.
I am eager to tackle long festering issues, such as regulatory treatment of digital assets and distributed ledger technologies. In addition, my warmest personal thanks go to Commissioner Peirce for her principled and tireless advocacy for common-sense crypto policy within the US.
This is important work as entrepreneurs across the United States are harnessing blockchain technology to modernize aspects of our financial system. I expect huge benefits from this market innovation for efficiency, cost reduction, transparency, and risk mitigation.
For the next 10 days we’re sharing #InvestingResolutions each day so you can kick the year off with informed investment decisions.
Resolution 1: Visit for free financial planning tools and resources to help you create a plan to meet your financial goals. Investor.gov
#InvestingResolution 2: Check Out Your Investment Professional.
You can check their background, registration status and more by using the free, simple search tool at . It’s a great first step toward protecting your hard-earned money. Investor.gov
#InvestingResolution 3: Sign up to receive Investor Alerts and Bulletins delivered right to your inbox.
They provide you with information on how to avoid the latest investment scams and can help educate you on current investment topics and trends. public.govdelivery.com/accounts/USSEC…