In one of his first speeches since becoming chairman of the U.S. Securities and Exchange Commission in April, Paul Atkins addressed some of the regulatory concerns surrounding the cryptocurrency industry.
In a prepared statement for the May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of the SEC. He suggested that financial regulators are following the law while being more open about “adapting and responding to new developments.”
“The crypto market has been struggling with limbos for years,” Atkins said.
“I have directed committee staff throughout the policy department to begin drafting rules proposals related to Crypto, but staff continue to “clear the brush” through staff-level statements. ”
Even before Atkins stepped into the role of SEC chairman, the committee’s actions under Donald Trump suggested that it would fundamentally depart from the direction of former chairman Gary Gensler. In 2025, the SEC abolished several investigations and enforcement measures for crypto companies and issued guidance on Memecoin and security tokens.
Related: CFTC Commissioner leaving agency on May 31st
“When you start your tenure as chairman, you see that you are returning to your roots of promotion rather than innovation,” Atkins said. “The market is innovating and the SEC should not order them to stand still.”
Looking for Congress for market structure
Atkins’ remarks came as U.S. lawmakers considered a draft bill to establish a regulatory structure for the crypto market. The proposed bill was able to pass through the House and clarify the role the SEC and the Commodity Futures Trading Commission (CFTC) have in the oversight and regulation of digital assets.
Until the law passes Congress and signs the law, SEC rules and guidelines on Crypto could face pushbacks from affected parties.
https://www.youtube.com/watch?v=ziirhv3cbog
The SEC chair has made his opening remarks, overseeing the committee’s roundtable events and discussing regulatory issues surrounding digital assets and blockchain. The next event, scheduled for June 9th, will cover decentralized finances.
Magazine: SEC U-turn on Crypto leaves important questions unanswered
