SEC Chair Declares Crypto Crackdown Over—Proposes ’Unified Framework’ to Replace Regulatory Chaos
Wall Street’s watchdog finally admits what crypto natives knew all along: brute-force enforcement wasn’t working. Now they’re scrambling to build guardrails for the runaway train they failed to stop.
Atkins drops the hammer—The SEC chief’s surprise pivot signals a post-enforcement era, with a new framework promising (gasp) clarity for exchanges and DeFi projects. Cue the institutional money printers.
Just don’t ask about the 12-month timeline—or how many ’unified’ drafts got shredded before this one. Somewhere in Miami, a VC sips champagne while shorting the regulators’ favorite stodgy bank stock.
‘New day at the SEC’
Atkins condemned the SEC’s past treatment of crypto firms, accusing the agency of offering little guidance while issuing subpoenas in response to good-faith outreach.
He added that this led to a regulatory environment devoid of trust and rife with confusion. Atkins further criticized the Commission’s failure to modernize registration processes for emerging technologies and pledged to end the pattern of opaque enforcement.
Instead, Atkins directed SEC staff to engage transparently with the industry and has already authorized the release of new staff guidance, including FAQs addressing broker-dealer and transfer agent questions related to digital assets.
He said:
“It is a new day at the SEC. The message going forward is not ‘go figure it out’ — it’s ‘let’s figure it out together.’”
Unified crypto framework
Looking ahead, Atkins outlined a long-term vision that includes allowing SEC registrants to custody and trade both securities and digital assets in a single regulated environment.
He said this could lower costs, encourage innovation, and lay the groundwork for what he called a “super-app” future in financial services.
Atkins also revealed plans to dismantle the agency’s Strategic Hub for Innovation and Financial Technology, or FinHub, arguing that its narrow scope and enforcement-heavy reputation had made it ineffective. Instead, he plans to embed innovation priorities across the Commission’s full structure.
While specific rule proposals are still in development, Atkins’ speech marked a clear departure from the agency’s previous stance and offered the clearest signal yet that the SEC is preparing to embrace, not obstruct, the digital asset ecosystem.
