SEC Chair Paul Atkins Vows Clear Crypto Rules to Tackle Bad Actors

SEC Chair Paul Atkins is pushing for sweeping reforms at the agency, aiming to redefine its approach to cryptocurrency regulation. Testifying before the Senate Appropriations Subcommittee, Atkins declared a "new and brighter day for the SEC," emphasizing the need for clear rules to protect investors and combat fraud.

Atkins stressed that policymaking should occur through formal rulemaking rather than regulation-by-enforcement. This stance emerges as Congress considers the CLARITY Act, which would strip the SEC of much of its authority over crypto assets and establish a new regulatory framework.

Democrats have raised concerns about potential loopholes in the proposed legislation. The debate underscores the growing tension between regulatory clarity and the need to prevent illicit activity in crypto markets.