SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement

Paul Atkins, the newly appointed chair of the US Securities and Exchange Commission (SEC), has boldly declared that "crypto’s time has come," marking a pivotal moment in the regulator’s approach to digital assets. Delivering a keynote address at the inaugural OECD roundtable on global financial markets, Atkins expressed his commitment to unlocking the potential of digital assets in the United States, highlighting the impact of new technologies on global finance.

Atkins criticized the previous SEC approach under former chair Gary Gensler, which he described as a "weaponization" of regulatory powers that stifled the crypto industry. The Commissioner pointed out that this "enforcement-centric strategy" not only proved ineffective but also drove innovation overseas, burdening American entrepreneurs with costly legal defenses. He asserted that those days are over and that the SEC is embarking on a new chapter.

The SEC under Atkins aims to establish "clear and predictable regulations" that will enable innovation to flourish. He indicated that the agency will no longer rely on ad hoc enforcement actions to set policy. As Congress works on legislation, the SEC is set to modernize its rules through what it has termed "Project Crypto." This initiative seeks to adapt existing securities regulations to accommodate the evolving digital asset landscape.