Chairman of Securities and Exchange Commission Paul Atkins called for a major modernization of the American crypto-activist policy, in which a three-part strategy is explained to revise regulations for issue, custody and trade.
He made the statement during his keynote address on the newest round table of the Crypto Task Force on 12 May, which covered the tokenization and potential to upgrade capital markets.
Atkins compared the shift to blockchain -based effects to the digital transformation of the music industry, with the argument that “on -chain” assets could bring about a revolution in capital markets, just like MP3’s audio distribution reformed.
The top priority of the SEC under Atkins will make a “rational regulatory framework” tailored to digital asset markets, causing years of unpredictable enforcement to break down that innovation discourages.
He promised that policy-making would now take place through formal channels instead of ad-hoc actions, which re-confirm his recent statements.
According to Atkins:
“It’s a new day on the sec.”
Throwded reform plan
Atkins imposed an ambitious reform agenda that was aimed at making it possible to make it possible to conform to crypto activa, expanding the options for legal custody and modernizing trading frames.
He noted that only a handful of projects have successfully registered offers through traditional SEC paths, indicating outdated disclosure forms and legal uncertainty as important barriers.
To tackle this, the regulator will consider exemptions, safe ports and disclosure guidance that is more suitable for assets for digital native. He emphasized that interim staff guidance remains temporary and that the full committee regulations are needed to determine lasting standards.
In custody, Atkins endorsed the recovery of workforce Bulletin no. 121, which had imposed a restrictive treatment of crypto companies. He called for broader clarity about what is eligible as a “qualified custodian” and said that the guardianship rules should evolve to display self -dependent solutions and emerging best practices in the industry.
For trade, Atkin’s support for allowing broker dealers to offer integrated services, including crypto and non-crypto-assets, under uniform platforms. He also increased the possibility of conditional exemption to allow new products that may not fit within existing rules.
The American leadership
Following the call from President Donald Trump to turn America into the ‘Crypto capital of the planet’, Atkins warned that if the SEC does not adapt, to migrate innovation offshore.
He praised commissioners Mark Uyeda and Hester Peirce for the co-leading of the newly formed crypto-task force, which aims to break down internal silos and rapid guidelines throughout the office.
During the address, Atkins emphasized the need for rules that protect investors and support innovation. He emphasized that the enforcement of fraud remains a priority, but will return the approach of the SEC to its ‘original intention’ for police violations of established obligations instead of making policy through enforcement.
The SEC is expected to continue with additional regulations, personnel guidance and interagency coordination in the coming months, because it wants to establish the US as a leader in Tokenized financial infrastructure.