- SEC Chair Paul Atkins emphasizes the need for clear crypto regulations to support innovation.
- Outdated custody rules to be replaced with flexible, blockchain-friendly standards.
- Industry leaders expect Paul Atkins’ leadership to create innovation and regulatory clarity.
Trump’s nominee, Paul Atkins, was sworn in as the 34th SEC Chair on April 21, 2025. Just four days after taking office, Atkins addressed the SEC’s third roundtable conference, where he highlighted the need for clear and supportive regulations for the cryptocurrency industry. As per his view, the past regulatory environment had slowed down innovation in the digital asset space.
Market participants engaging with this technology deserve clear regulatory rules of the road. Innovation has been stifled for the last several years due to market and regulatory uncertainty that, unfortunately, the SEC has fostered.
Additionally, he promised to address the longstanding issues related to digital assets and blockchain technology, aiming to establish a “rational and fit-for-purpose framework for crypto assets.” Atkins, known for his pro-business stance and previous experience as SEC Commissioner during 2002 to 2008, is expected to take a more industry-friendly approach compared to Gary Gensler Under Gensler’s leadership, the SEC took enforcement actions against many crypto companies. This received criticism from the industry that there were no clear guidelines, and the SEC’s actions are imposing a negative impact on the growth of the blockchain and crypto industry.
Related: Paul Atkins Takes Charge of SEC After Senate Confirmation
Further, in the roundtable, Paul Atkins discussed his vision to move away from the “regulation-by-enforcement” strategy to adopt a more industry-friendly stance. Atkins announced that SEC Commissioner Hester Peirce will also lead efforts to create this new regulatory framework. Peirce has led the Crypto Task Force, which was appointed by Mark Uyeda, for the past 90 days. Under her leadership, the SEC has dropped several lawsuits against major crypto companies and has paved the way for a pro-crypto regulatory framework.
Industry leaders welcomed Atkins’ push for clear, crypto-friendly rules, seeing it as a key step to rebuild trust between the SEC and the crypto sector. As the SEC shifts toward regulatory clarity under his leadership, the focus will be on supporting innovation while ensuring investor protection.
