U.S. SEC Chair Paul Atkins Pledges to Modernize Securities Rules for Crypto Market
U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins recently announced plans to modernize the U.S. securities rulebook to accommodate the growing cryptocurrency market. Speaking at the OECD’s Roundtable on Global Financial Markets in Paris, Atkins outlined the SEC’s shift towards providing clear rules for tokens, custody, and trading platforms, moving away from enforcement-driven policymaking.
Clear Rules for Crypto Assets
Atkins emphasized the need for bright-line rules to determine when crypto assets fall under SEC oversight, stating that most tokens are not securities. He stressed the importance of enabling entrepreneurs to raise capital on-chain without facing legal uncertainty and promised a framework for platforms that integrate trading, lending, and staking under a single license. Additionally, Atkins mentioned updating custody rules to offer investors and intermediaries multiple options.
Project Crypto and Future Developments
Atkins introduced Project Crypto as a means to pave the way for tokenized securities, new on-chain asset classes, and decentralized finance software, all while ensuring investor protections. He also discussed the potential for “super-app” trading platforms and the significance of fostering innovation within the United States.
Atkins’ remarks in Paris built upon the agenda set forth by Project Crypto, which was first unveiled in Washington in 2025. The SEC chair provided more insight into custody, capital formation, and platform rules, highlighting the agency’s commitment to supporting President Trump’s vision of positioning the U.S. as a global crypto hub.
Industry Support and Regulatory Challenges
In a show of industry support, Nasdaq President Tal Cohen expressed enthusiasm for tokenization as an opportunity for global markets. Nasdaq had even filed with the SEC to enable trading of tokenized securities, signaling the shift towards blockchain adoption among major institutions.
Atkins also touched on foreign company listings, accounting standards, and European regulation during his speech. He raised concerns about EU reporting laws and the need for stable funding for the International Accounting Standards Board (IASB). Additionally, he hinted at the SEC potentially revisiting its decision on International Financial Reporting Standards (IFRS) if funding issues persist.
Artificial Intelligence and Financial Markets
Atkins highlighted the transformative potential of artificial intelligence in reshaping financial markets, describing a future where autonomous AI systems could execute trades, allocate capital, and manage risk at unprecedented speeds. He envisioned a shift towards “agentic finance,” where AI-driven systems could offer faster, cheaper markets and advanced strategies to a wider investor base.
Despite the promising prospects, Atkins cautioned regulators to provide sensible guidelines without stifling innovation. He urged for a balance between fostering innovation and safeguarding investor interests, emphasizing the need for U.S. markets to lead the way in embracing the next wave of financial innovation.
Looking Ahead
As Atkins concluded his address, he reiterated that “crypto’s time has come,” urging U.S. markets to seize the opportunity to drive the evolution of financial innovation. He emphasized the importance of maintaining a leadership position to ensure that on-chain capital markets and AI-driven finance flourish domestically, rather than abroad.