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SEC Chairman Paul Atkins Promises a New Era of Crypto Regulation

Published by
Vignesh S G

SEC Chairman Paul S. Atkins has made cryptocurrency regulation a top priority of his leadership, pledging to replace the regulator’s controversial enforcement-first approach with a clear, structured rulebook.

In his June 3 testimony, Atkins presented a vision to support innovation, protect investors, and eliminate fraud from the cryptocurrency ecosystem.

Need for a Clear Crypto Regulatory Framework

While delivering testimony before the Senate Appropriations Subcommittee, Atkins stressed the importance of creating a regulatory framework for cryptocurrency in the country.

He explained how the lack of clear regulation has encouraged fraud in the crypto market and emphasized that his top priority is to establish a regulatory framework that supports innovation and prevents fraud.

Reports indicate that the new SEC leadership will focus on creating specific rules for issuing, storing, and trading crypto as part of broader cryptocurrency regulation reforms.

SEC’s New Crypto Task Force

During the U.S. election campaign, Donald Trump promised to introduce policies supporting the crypto sector.

Following his inauguration, several initiatives have been launched to back the digital asset industry. One of the key steps is the creation of a new Crypto Task Force under the SEC.

The task force aims to help the SEC establish clear regulations for cryptocurrency and has already held four public roundtables covering:

  • Security classifications
  • Trading oversight
  • Custody
  • Tokenization

In the upcoming roundtable, the task force will discuss another major topic: Decentralized Finance (DeFi).

New Approach of the U.S. SEC

Speaking on the task force’s progress, Atkins praised the leadership of Commissioner Hester Peirce, calling her a principled and tireless advocate for commonsense policy.

He strongly denounced the enforcement-first approach of the previous SEC regime, asserting that future policymaking will be conducted through public rulemaking—not surprise enforcement actions.Atkins emphasized a return to the SEC’s original mission: creating clear rules and enforcing them fairly, especially as cryptocurrency regulation enters a new phase in U.S. policy.

FAQs

What is the SEC Crypto Task Force?

The SEC’s new Crypto Task Force develops crypto regulations via public roundtables on trading, custody, DeFi, and more.

What is the US government’s broader stance on crypto?

The US aims to support responsible digital asset growth, balance innovation with investor protection, and prevent illicit activities, involving multiple agencies and potential Congressional action.

Beyond the SEC, which other US agencies regulate crypto?

Key agencies include the CFTC (commodities), FinCEN (AML/CFT), IRS (taxation), and banking regulators like the Federal Reserve and OCC for traditional financial institutions.

How will the SEC establish new crypto rules?

The SEC plans to use “notice and comment rulemaking,” which involves public input, moving away from enforcement-driven policy.

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

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