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SEC Chair Paul Atkins said the U.S. “can and should be the crypto capital of the world” during a House hearing on Wednesday, where Democrats accused him of eroding trust by dismissing cases against crypto firms tied to President Trump.

Atkins told the House Financial Services Committee that achieving Trump’s goal of making the U.S. the crypto capital requires a framework that makes sense.

Traditional SEC rules “are not really fit for purpose” and created marketplace uncertainty, driving the need for the Clarity Act.

“We want to make sure people know the rules of the road and can abide by it,” Atkins said,…