SEC's Atkins seeks overhaul of “cautious” crypto rules

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SEC Chair Paul Atkins calls for a fundamental reassessment of the regulatory framework of the institutions that govern crypto assets, criticizing current rules as outdated and burdensome.

Just In: Pro-Bitcoin Sec Chairman Paul Atkins spoke at today's SEC Crypto Task Force Roundtable, saying “the current framework has a need for reform” when it comes to Bitcoin and crypto regulations. pic.twitter.com/v8zc0kr3yz

– Crypto_briefing (@crypto_briefing) April 25, 2025

Speaking at the SEC's third cryptographic task force roundtable on Friday, Atkins said existing approaches to digital asset monitoring “needs to be crucial.”

“Unfortunately, innovation has been curtailed for the past few years due to the uncertainty of the markets and regulatory authorities that the SEC has cultivated,” Atkins said in his opening remarks at the Round Table.

The SEC Chief has pledged to work with industry players, fellow commissioners, Congress and the Trump administration to build a “rational framework of purpose” for digital assets.

Known as an advocate for innovation, Atkin believes Crypto and Blockchain Technologies could bring about real system-wide improvements. He emphasized that entrepreneurs who use blockchain technology to modernize their financial systems “deserve clear regulatory rules.”

During Friday's roundtable, participants focused on the challenges that enrollees face when cryptocurrency managers need to comply with federal securities laws. Atkins questioned whether changes were required to custody rules under the Exchange Act, Advisor Act, or Investment Companies Act to address crypto assets and blockchain technology.

Atkins, who serves as the third stint at the securities agency, also thanked commissioners Mark Weda and Hester Perth.

He praised Commissioner Peirce, known as “Crypto Mom,” for her “principle and tireless defense of common spiritual crypto policy,” and said she was “certainly a good person to guide efforts to come up with a reasonable regulatory framework for crypto assets in the market.”

Atkins officially envisioned his position as SEC chairman earlier this week after being nominated for President Donald Trump and confirmed by the Senate.

At the official sworn ceremony on Tuesday, the new SEC chair said it would prioritize establishing a transparent regulatory framework for digital assets. Atkins also reaffirmed its commitment to capital formation, market efficiency and investor protection.

Former Wall Street figure and entrepreneur Atkins is recognized for his philosophy of submission and custody attitude, in contrast to the stricter regulatory approach of his predecessor, Gary Gensler.

The SEC's Cryptographic Task Force under Commissioner Peirce has held numerous roundtables to establish a regulatory path that is different from the previous administration's enforcement-heavy approach.

Atkins, which currently operates its agency, is particularly focused on modernizing digital assets and blockchain technology, and is expected to continue to promote a more innovation-friendly regulatory environment.

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