- 29 crypto-associated actions were resolved last year, and among them, 7 cases were resolved under Atkins’ administration.
- The principal at Cornerstone Research stated that enforcement actions taken under Chair Atkins show a transformation in the approach of the SEC over digital-asset oversight.
The securities regulators from the United States unlocked far fewer crypto-associated enforcement actions in the last year. A Cornerstone Research report also highlighted a sharp move in priorities after Trump’s government made Paul Atkins the chairman of the Securities and Exchange Commission (SEC).
The report mentioned that the SEC has led around 13 crypto-associated actions last year, a fall from 33 in 2024, accounting for a 60% decline and the lowest level hit since 2017. Among all the actions, 5 of them were carried on under Atkin’s administration, and 8 included allegations of fraud.
As the SEC has shifted its focus on the cases of fraud, the focus has shifted away from wide registration theories and towards cases made around clear investor harm that are swifter to argue in court.
In that report, it was also mentioned that 29 crypto-associated actions were resolved last year, and among them, 7 cases were resolved under Atkins’ administration. At the same time, the overall monetary penalties for digital asset market participants stood at $142 million in 2025. Cornerstone also mentioned that it was less than 3% of the penalties imposed a year ago.
The Transformation Under Atkin’s Administration
The principal at Cornerstone Research, Robert Letson, stated that enforcement actions which were taken under Chair Atkins show a transformation in the approach of the SEC over digital-asset oversight, the same with the priorities defined in early 2025.
He further went on, mentioning that digital asset regulation carries on to transform and is something we will be overlooking keenly this year.
SEC’s office was handed over to Atkins in April 2025, followed by a short span of an acting chair. Legal observers have also observed that a wider reset has been noticed in tone over the agency since the leadership shift.
If the SEC carries on prioritising cases it can define as fraud, the upcoming phase of US crypto oversight may hover less on surprise lawsuits and heavily on rulemaking and guidance.