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      a16z submits comment letter to US SEC, recommends using 1998 ATS regulatory framework as blueprint for crypto trading platform rules

      PANews reported on September 18 that a16z and the DeFi Education Fund (DEF) submitted a proposal to the US SEC on September 14, responding to the SEC's request for comments on the regulatory framework for crypto asset trading platforms (CTPs). a16z recommends using the 1998 alternative trading system (ATS) regulatory framework as a blueprint, allowing CTPs to register with the SEC through notice filing, while supporting the trading of crypto securities and non-security asset pairs (such as BTC/stablecoin) on the same platform to avoid market fragmentation. The public disclosure requirements of Form ATS-N would only apply after trading volume exceeds a certain threshold, with disclosures below the threshold submitted confidentially; CTPs should be able to set differentiated access permissions for different users and support the use of blockchain for recordkeeping.


      Source: PANews
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