Paul Atkins, chairman of the SEC, criticised prior leadership for ignoring crypto engagement and failing to adapt registration processes, calling it a 'head-in-the-sand' approach

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In the past few years, the SEC first pursued what I call the "head-in-the-sand" approach – perhaps hoping that crypto would go away.

It claimed that it was willing to talk to prospective registrants, 'Just come in to visit,' but this proved ephemeral at best and more often disingenuous because the SEC made no necessary adaptations to registration forms for this new technology," he said.