In his first public remarks as Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins addressed the growing need for clear and consistent regulations for the cryptocurrency sector. Speaking at the SEC’s crypto roundtable on Friday, Atkins stressed that the previous regulatory uncertainty had hindered innovation and that crypto market participants deserve “clear rules of the road.”
Atkins, who has been closely involved with the crypto industry, vowed to reshape the SEC’s approach to digital assets. Under his leadership, the SEC aims to provide a more rational, fit-for-purpose framework, balancing regulation with fostering innovation. The chairman’s remarks signal a shift from the aggressive stance taken by his predecessor, Gary Gensler, who had heavily scrutinized crypto companies for noncompliance with U.S. securities laws.
While the crypto sector eagerly awaits Congressional action to establish more formal oversight, Atkins emphasized that the SEC would not wait for new laws to act. He indicated that the agency has ample room to maneuver under existing authorities, particularly in areas like crypto broker-dealer regulations and custody rules for digital assets.
Atkins’ leadership marks a turning point for the SEC’s engagement with digital assets. In contrast to Gensler’s aggressive enforcement, Atkins is focused on creating a balanced approach that supports innovation while ensuring compliance with U.S. laws. The new SEC chairman’s stance is welcomed by crypto firms, who have long called for more regulatory clarity.
As the SEC continues its series of crypto roundtables, Atkins is expected to lead discussions on pivotal issues, including crypto custody and the future of special-purpose crypto broker-dealers. His leadership promises to redefine the SEC’s role in regulating digital assets, positioning it to both guide and safeguard the industry.