SEC Chair Atkins Signals Crypto Rule Mobilization—But Still Waits on Congress
Regulators are revving their engines—just don’t expect them to hit the gas yet.
SEC Chair Atkins dropped the bureaucratic equivalent of a mic drop today: The agency is "mobilizing" for crypto regulation. Translation? They’ve got the PowerPoint slides ready.
The Congressional Crutch
Like a DeFi project blaming 'market conditions,' Atkins pivoted to Congress. Until lawmakers act, the SEC’s 'mobilization' looks suspiciously like watching from the sidelines.
Wall Street’s Favorite Waiting Game
TradFi players are salivating—delayed rules mean more time to lobby for loopholes. Meanwhile, crypto natives keep building. Some things never change.
Atkins’ announcement proves one thing: When it comes to crypto, Washington moves at blockchain speed—just without the decentralization.
SEC Chair Atkins tags lawmakers as agency works to enact crypto guidelines
The SEC is preparing to implement President Donald Trump's vision to make the US the crypto capital of the world, Chair Paul Atkins stated in a Fox Business interview on Friday.
Atkins said the agency is "mobilizing" all of its different divisions and offices to carry out the recommendations of Trump's Crypto Working Group, which include revisiting rules that "have been around for 90 years or so."
He referenced that the Group, which released a report in July, outlined clear suggestions to advance and realize the President's vision for crypto and digital finance.
The SEC anticipates legislative progress in passing other crypto bills, Atkins said. He noted that the agency's work will be grounded in laws enacted by Congress, including the recently signed, stablecoin-focused GENIUS Act and ongoing market structure reform efforts.
"It will be undergirded by whatever comes out of Congress, but I believe that we have the authority to MOVE forward in these areas and provide that certainty and clarity for people," Atkins said.
Lawmakers passed the GENIUS bill last month with a strong bipartisan vote, which aims to regulate stablecoin issuance in the country. House lawmakers also passed the CLARITY and Anti-CBDC bills, which required the Senate's approval before reaching the President's desk.
Atkins also spoke on the potential impact of a district court's decision to strike down the debit interchange rule. He said the ruling could encourage alternative payment methods, including cryptocurrencies, and strengthen real-time or instant payment networks.
The statement comes a few weeks after Atkins announced the SEC's Project Crypto initiative, which aims to develop better regulations to fit advancements in the crypto industry.
Atkins stated his desire to see the US financial market move on-chain. The initiative will also provide clear and simple regulatory guidelines for crypto asset classification, custody and trading.
