SEC Chair Paul Atkins Unveils New Crypto Rulebook and Proxy Reforms

SEC Chair Paul Atkins has introduced sweeping reforms aimed at modernizing financial regulations, with a particular focus on cryptocurrency and proxy advisory firms. The changes seek to address long-standing ambiguities in crypto oversight while curbing the outsized influence of proxy advisors on corporate governance.

The centerpiece is Project Crypto, a new regulatory framework recognizing that digital assets can transition from securities to non-securities as networks mature. Tokens will be categorized into four distinct classes: network tokens, collectibles, digital tools, and tokenized securities—with only the latter remaining under strict SEC purview.

Atkins emphasized this evolutionary approach resolves the industry's core challenge of forcing blockchain assets into paper-era securities laws. The reforms signal a potential watershed moment for crypto projects operating under legal uncertainty, though enforcement against fraud remains uncompromising.