SEC Chair Paul Atkins Signals Major Shift on Crypto and 401(k) Rules

SEC Chair Paul Atkins has signaled a strategic pivot at the regulatory agency, moving away from surprise enforcement actions toward establishing clear rules for cryptocurrencies and digital assets. In a Bloomberg interview, Atkins highlighted ongoing efforts, including a crypto task force led by Commissioner Hester Peirce, and welcomed recent legislation clarifying that meme coins and stablecoins are not securities.

The SEC is also considering an "innovative exemption" to facilitate tokenization while safeguarding investors. With stablecoin oversight now under banking regulators, Atkins emphasized the need for robust disclosures and safeguards as interest grows in allowing 401(k) investments in private equity and crypto. "Disclosure is key—people need to know what they’re getting into," he said, noting potential collaboration with the Labor Department and an upcoming executive order.