SEC Chair unveils crypto regulation vision: "We will make the U.S. the crypto capital"
Paul Atkins, the new chair of the U.S. Securities and Exchange Commission (SEC), shared a comprehensive regulatory vision for crypto assets with the public. Speaking at the Tokenization Roundtable event held on May 13, Atkins stated that the SEC's approach to cryptocurrency markets has fundamentally changed. He mentioned that the U.S. will become the "crypto capital of the world."
Atkins' initiative aims to shift the SEC's previous focus on enforcement and penalties toward a balanced framework that supports innovation and protects investors. In his speech, Atkins emphasized that the decentralized nature of blockchain-based financial products does not align with current regulations, underscoring the urgent need for new rules to be developed.
Regulations for issuance rules on crypto assets are coming
Atkins expressed that regulatory clarity regarding the issuance of crypto assets is still insufficient. He reminded that only four companies have conducted SEC-approved public offerings or token distributions under Regulation A, pointing out that traditional S-1 forms are not suitable for crypto projects. For instance, he noted that details such as executive fees are not applicable to decentralized projects.
To address this inconsistency, Atkins stated that SEC staff has published guidance-like statements; however, he emphasized the need for a more comprehensive commission decision. He mentioned that regulatory adjustments regarding exemptions and registration conditions are being considered to support new issuance models.
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