Thomas Daniels
In one of his first public engagements since assuming leadership of the U.S. Securities and Exchange Commission (SEC), Chair Paul Atkins emphasized the transformative potential of blockchain technology during the agency’s third cryptocurrency roundtable. Sworn in on April 21, Atkins addressed participants at the “Know Your Custodian” event on April 25, signaling a pivotal shift in the SEC’s approach to digital asset regulation.
Atkins articulated his belief that blockchain could yield “huge benefits” by enhancing efficiency, reducing risks, improving transparency, and lowering costs across financial markets. He further stated that establishing “clear regulatory rules of the road” for digital assets would be a central objective of his tenure, indirectly critiquing the previous administration under former Chair Gary Gensler, whose policies were often blamed for fostering regulatory uncertainty.
“I look forward to engaging with market participants and collaborating with colleagues in President Trump’s administration and Congress to establish a rational, fit-for-purpose framework for crypto assets,” Atkins declared during the roundtable.
The appointment of Atkins has not been without controversy. Critics of President Donald Trump view his selection as an overt concession to the cryptocurrency industry, fulfilling campaign promises to oust Gensler—who resigned the day Trump assumed office—and to scale back regulatory oversight. During confirmation hearings, Democratic members of the Senate Banking Committee questioned Atkins regarding his connections to the crypto sector, suggesting potential conflicts of interest.
Redefining the SEC’s Crypto Strategy
Participants at the roundtable reported a noticeable shift in regulatory sentiment under Atkins’ leadership. “We’ve noticed that we don’t have to be as concerned about being accused of things that we’re not doing, like being broker-dealers for securities,” said Veronica McGregor, chief legal officer at Exodus, in an interview with Cointelegraph on April 24. “It’s just a less scary regulatory environment in general. It is, however, still unclear what the ultimate regulations for crypto will be.”
The SEC’s newly energized crypto task force, led by Commissioner Hester Peirce, is scheduled to conduct two additional roundtables in May and June, focusing respectively on tokenization and decentralized finance (DeFi). Peirce, who welcomed the opportunity to work alongside Atkins, expressed optimism in March about “reorienting the agency” towards more crypto-friendly policies.
Beyond the roundtable discussions, the task force has reportedly engaged in a series of meetings with digital asset firms to shape a comprehensive, adaptive regulatory framework for the rapidly evolving industry.
