Newly appointed U.S. SEC Chair Paul Atkins has pledged to establish a rational regulatory framework for digital assets, aiming to repair strained relationships between regulators and crypto firms. His first public speech emphasized the need for clear and consistent policies, a departure from the previous administration’s approach, which was often criticized for fostering regulatory uncertainty.
Atkins, who assumed office last Monday, stated that the United States must become a safe and suitable environment for crypto innovation. His remarks were welcomed by industry leaders, including Michael Saylor, who expressed optimism about the new direction. The SEC’s Crypto Task Force has already begun discussions on how securities laws should apply to digital assets, a topic that has been contentious under previous leadership.
The crypto industry has long sought regulatory clarity, particularly regarding compliance requirements for exchanges and token issuers. Atkins acknowledged that innovation has been stifled due to unclear regulations and pledged to work with Congress and the administration to develop a fit-for-purpose framework.
Focus on Crypto assets
One of the key areas of focus is custody rules for crypto assets, which have posed challenges for financial institutions. The SEC is considering whether changes are needed to accommodate blockchain technology within existing regulations.
Industry participants expect Atkins to repair the relationship between regulators and crypto firms, fostering an environment where businesses can operate without fear of sudden enforcement actions. His appointment marks a significant shift in the SEC’s stance, potentially paving the way for more constructive engagement with the crypto sector.
As the regulatory landscape evolves, stakeholders will be watching closely to see how Atkins translates his promises into actionable policies.
Shogun Lin
