SEC Chair’s Vision for Digital Assets Regulation
The chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, believes that the regulatory body can effectively advance its framework for digital assets without needing new legislative measures from Congress. In a recent interview with CNBC, Atkins emphasized that the SEC would continue to provide essential “technical assistance” as lawmakers deliberate on a potential regulatory bill for digital currencies, particularly referencing a market structure proposal that is currently under consideration in the Senate.
Confidence Amid Challenges
Despite facing challenges during the longest government shutdown in U.S. history, Atkins expressed confidence in the agency’s ability to progress with rules designed to support the cryptocurrency sector.
“We have enough authority to drive forward,”
he stated, hinting at an upcoming “innovation exemption” that he anticipates will be finalized within a month.
Strategic Approach to Crypto Regulation
Since his confirmation as SEC chair in April—following his nomination by former President Donald Trump—Atkins has pursued a strategy that aims to reduce enforcement actions against crypto firms. This includes issuing no-action letters to decentralized physical infrastructure networks, a move that aligns with the Trump administration’s broader policies concerning crypto and blockchain technology.
Looking Ahead
Atkins marked his recent accomplishments by ringing the opening bell at the New York Stock Exchange, where he also discussed his vision for the SEC as the country nears its 250th anniversary. Meanwhile, U.S. regulators await more developments related to the proposed market structure bill. Members from both the Senate Banking and Agriculture Committees are pushing to finalize this legislation, which will clarify the regulatory responsibilities of both the SEC and the Commodity Futures Trading Commission over digital currencies. Tim Scott, the chair of the Senate Banking Committee, indicated that a markup of the bill could occur in December.
