New US SEC chair says crypto sector deserves clear regulations

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo

WASHINGTON (Reuters) -The new head of the U.S. Securities and Exchange Commission on Friday said that the agency has stifled innovation for the cryptocurrency sector by fostering "regulatory uncertainty" in prior years.

"Market participants engaging in this technology deserve clear regulatory rules of the road," Paul Atkins said in his first remarks since being sworn in as chairman of the agency as chairman earlier this week.