It was stated by the new SEC chair that the agency “should not be engaged in the practice” of hindering innovation within companies operating in the digital asset space.
In one of his initial addresses following his appointment as chair of the U.S. Securities and Exchange Commission (SEC) in April, regulatory concerns surrounding the cryptocurrency sector were acknowledged and addressed by Paul Atkins.
In remarks prepared for a speech delivered on May 19, it was stated by Atkins that a “new day” had arrived for the cryptocurrency industry under the present leadership of the SEC. He indicated that the financial regulator would be more inclined to “adapt to and accommodate new developments,” while continuing to adhere to its established legal framework.
It was remarked by Atkins that “the crypto markets have been left stagnating in a state of SEC uncertainty for years”.
While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to ‘clear the brush’ through staff-level statements.
He further added:
Even prior to Atkins assuming the position of SEC chair, actions taken by the commission during Donald Trump’s administration signaled a significant shift away from the regulatory approach of former chair Gary Gensler. In 2025, multiple investigations and enforcement proceedings against cryptocurrency firms were dropped by the SEC, and new guidance was issued concerning memecoins and security tokens.
As his tenure as Chairman commenced, it was affirmed by Atkins that a return to the SEC’s foundational goal of fostering—rather than hindering—innovation was underway. He stated, “Innovation originates from the markets, and it is not the role of the SEC to demand that they remain stagnant.”
Turning to Congress for Crypto Market Framework
Atkins’ comments were delivered as draft legislation aimed at creating a regulatory framework for cryptocurrency markets was being reviewed by U.S. lawmakers. The proposed bill, currently advancing through the House of Representatives, is expected to provide clarity regarding the responsibilities of both the SEC and the Commodity Futures Trading Commission (CFTC) in the supervision and regulation of digital assets.
Unless the legislation is passed by Congress and enacted into law, resistance may be encountered by the SEC’s existing rules and guidelines on cryptocurrency from impacted stakeholders.
Opening remarks have been delivered and roundtable discussions addressing regulatory matters related to digital assets and blockchain have been overseen by the SEC chair. The upcoming session, set for June 9, is expected to focus on the topic of decentralized finance.
