Nikolas Sargeant
SEC Chair Paul Atkins emphasized his commitment to cryptocurrency innovation during an appearance at DC Fintech Week on Wednesday, reiterating that crypto and tokenization remain the agency's top priority. He stated the goal is to create a robust framework that attracts businesses back to the United States while enabling innovation to flourish, jokingly referring to the agency as the "Securities and Innovation Commission."
Atkins has adopted a markedly different regulatory approach compared to his predecessor Gary Gensler, who took enforcement actions against major crypto companies and maintained that most digital currencies were securities. The new chair is focused on moving away from what he and others criticized as regulation by enforcement toward clearer guidelines and rules.
Among his proposals, Atkins discussed creating an innovation exemption and developing a "super app" concept that would allow companies to register with a single agency rather than multiple regulators all focused on similar objectives. This streamlined approach aims to reduce bureaucratic hurdles for crypto businesses operating in the United States.
However, the SEC's progress has been hampered by the ongoing government shutdown, which has entered its second week after Congress failed to reach a funding agreement. The agency is currently operating with severely limited staff available only for emergency situations.
