SEC Chair Declares a ‘New Day’ in Aim to Become ‘Crypto Capital of the Planet’

Atkins opened the assembly, stating that the subject of the dialogue is well timed as “securities are more and more migrating from conventional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger techniques.”

The roundtable dialogue was the third in a series of four addressing tokenization and bringing conventional belongings on-chain.

Atkins declared “a brand new day on the SEC,” pivoting away from regulation by enforcement towards creating clear regulatory frameworks by means of correct rulemaking processes.

To ensure that the US to be the “crypto capital of the planet,” the Fee should “preserve tempo with innovation and take into account whether or not regulatory adjustments are wanted to accommodate on-chain securities and different crypto belongings,” he stated.

“Policymaking will now not end result from advert hoc enforcement actions.”

Chairman Paul Atkins’ remarks on the Crypto Job Drive roundtable on tokenization:

The subject of this afternoon’s dialogue is well timed as securities are more and more migrating from conventional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger techniques.

— U.S. Securities and Alternate Fee (@SECGov) May 12, 2025

Issuance, Custody, and Buying and selling

Atkins in contrast the migration from conventional to blockchain-based securities to the digital revolution within the music business. He steered it might remodel securities markets by means of enhanced liquidity, automation, and novel functions.

There have been three fundamental focus areas on the roundtable: issuance, custody, and buying and selling.

He acknowledged that few crypto belongings have used registered choices, and is dedicated to creating clearer pointers and doubtlessly new registration exemptions for token issuers.

The regulator additionally plans to supply extra choices for crypto custody, together with revisiting “certified custodian” necessities and doubtlessly permitting self-custody options.

Thirdly, Atkins was supportive of broader buying and selling choices, together with “tremendous apps” that mix securities and non-securities buying and selling, and modernizing Different Buying and selling System laws.

“Up to now few years, the SEC first pursued what I name the ‘head-in-the-sand’ strategy – maybe hoping that crypto would go away,” he stated earlier than including:

“Then, it pivoted and pursued a shoot-first-and-ask-questions-later strategy of regulation by means of enforcement.”

Sq. Peg in Spherical Gap

He referenced dated varieties such because the S-1, which can not apply to crypto, including, “We can not encourage innovation by making an attempt to suit a sq. peg right into a spherical gap.”

Atkins, who took the helm of the SEC in April, concluded:

“I’m desperate to coordinate with colleagues in President Trump’s Administration and Congress to make america the very best place on the earth to take part in crypto asset markets.”

The ultimate roundtable titled “DeFi and the American Spirit” is scheduled for June 9.

Earlier this month, the SEC and Ripple agreed on a $50 million settlement that ends the five-year authorized battle that was instigated by the earlier administration as certainly one of its first strikes in its conflict on crypto.