Paul Atkins: “Crypto Markets Are Stuck in SEC Uncertainty”
In one of his initial addresses since taking on the role of chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins discussed various regulatory issues concerning the cryptocurrency sector.
In his prepared comments for a speech on May 19, Atkins stated that it marks a “new day” for the crypto industry under the present leadership of the SEC. He indicated that the financial regulator would be more willing to “adapt to and accommodate new developments” while maintaining adherence to its statutes.
“The crypto markets have been languishing in SEC limbo for years,” remarked Atkins, adding:
“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.”
Even prior to Atkins assuming the position of SEC chair, the commission’s actions during Donald Trump’s administration signaled a significant shift from the approach taken by former chair Gary Gensler. In 2025, the SEC has terminated several investigations and enforcement actions against crypto companies and provided guidance on memecoins and security tokens.
Related: CFTC commissioner to depart agency on May 31
“As I commence my tenure as Chairman, I assure you that we are returning to our roots of promoting, rather than stifling, innovation,” Atkins expressed. “Markets evolve, and the SEC should not impede their progress.”
Looking to Congress for Market Structure
Atkins’ comments coincided with US lawmakers deliberating draft legislation aimed at establishing a regulatory framework for crypto markets. The proposed bill, advancing through the House of Representatives, could elucidate the roles of the SEC and the Commodity Futures Trading Commission (CFTC) in governing and regulating digital assets.
Until legislation is passed by Congress and enacted into law, the SEC’s guidelines and regulations regarding crypto may encounter resistance from impacted parties.
The SEC chair has delivered opening remarks and overseen the commission’s roundtable events, focusing on regulatory matters related to digital assets and blockchain. The upcoming event, scheduled for June 9, will address decentralized finance.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
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