US SEC Chairman: Plans to streamline regulations, promote encryption legislation, and reduce costs.

PANews reported on February 11 that the Chairman of the U.S. Securities and Exchange Commission (SEC), testifying before the House Financial Services Committee, stated that the SEC will reduce regulatory burden through three major initiatives to "make IPOs great again": streamlining disclosures based on the materiality principle, reducing the politicization of shareholder meetings, and providing litigation alternatives for listed companies. He emphasized that the federal regulatory framework for crypto assets is "seriously lagging," and supported Congress passing the CLARITY Act and working with the CFTC through "Project Crypto" to develop token classification and on-chain transaction exemption schemes. Simultaneously, the SEC is comprehensively reviewing and reducing system costs such as the Consolidated Audit Trail (CAT), lowering the PCAOB budget and director compensation, and combating foreign manipulation and fraud through cross-border enforcement, reiterating its core mission of protecting investors and improving market efficiency.