The SEC Chair, Paul Atkins, outlines a new approach to cryptocurrency regulation.

-According to ShibDaily, Paul Atkins, the newly appointed Chair of the U.S. Securities and Exchange Commission (SEC), has addressed regulatory concerns surrounding the cryptocurrency sector in a recent speech. During the SEC Speaks conference, Atkins highlighted a shift in the agency's approach to digital assets, describing it as “a new day” for the crypto industry under his leadership. He emphasized the Commission's willingness to adapt to emerging technologies while fulfilling its statutory obligations. Atkins remarked that cryptocurrency markets have been in regulatory limbo with the SEC for years and revealed that he has instructed the staff of the SEC's policy divisions to begin developing formal rule proposals for the crypto sector. He noted that the agency's teams are actively working to clarify regulatory uncertainties through ongoing staff-level guidance.

Before Atkins took office as SEC Chair, regulatory actions during the Trump administration marked a significant shift from the approach of former Chair Gary Gensler, who focused on strict oversight of the cryptocurrency sector. Under Gensler, the Commission prioritized law enforcement and stricter regulations aimed at enhancing transparency and investor protection. This year, the SEC has reversed multiple investigations and enforcement actions directed at cryptocurrency companies, while also publishing updated guidance on meme coins and security tokens. Atkins stated that as he begins his term as Chair, the SEC is returning to its roots of promoting innovation rather than stifling it. He added that markets innovate, and the SEC should not be in the business of telling them to stand still.