SEC Chair Criticizes Past Crypto Regulation Approach, Calls for Constructive Engagement
New SEC Chair Paul Atkins has openly criticized the agency’s previous "head-in-the-sand" approach to cryptocurrency regulation, signaling a potential shift toward more constructive engagement with the industry. Speaking to capital markets, Atkins lambasted the "regulation by enforcement" tactics of his predecessors, which he argues created a trust deficit and stifled innovation.
The crypto industry has long complained about regulatory uncertainty under the SEC’s aggressive enforcement actions. Atkins’ remarks suggest a recognition that digital assets aren’t disappearing, requiring a more nuanced regulatory framework. Market participants have faced subpoenas and legal actions without clear guidelines—a practice the new chair appears determined to reform.
