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Securities and Exchange Commission (SEC) Chair Paul Atkins reaffirmed that cryptocurrency and tokenization are now the agency’s top priorities. Speaking at DC Fintech Week, Atkins said the Securities and Exchange Commission intends to build a framework that encourages innovation and restores confidence among firms that left the United States due to previous regulatory uncertainty.
He stated that the SEC aims to create an environment where innovation can thrive, adding humorously that the agency could be called the “Securities and Innovation Commission.” Atkins, who took office in April, has repeatedly signaled a shift in tone and approach compared with former Chair Gary Gensler.
The SEC, under Gensler, adopted an enforcement-first approach, arguing that the majority of cryptocurrencies were securities. During his tenure, he has issued 125 enforcement actions from 2021 to 2024, resulting in over $6 billion in penalties. The strategy was criticized for lagging in technology development and pushing digital asset companies into exile.
Since assuming office, Atkins has taken multiple steps to make the SEC more open to digital assets. He has described distributed ledger technology as one of the most promising aspects of the crypto ecosystem. In June, he instructed SEC staff to draft an “innovation exemption” designed to help firms launch blockchain-based products quickly while remaining compliant with securities laws.
Atkins said he expects to finalize the exemption before the end of 2025. He also outlined a long-term goal of establishing a “super app” to simplify coordination among different US agencies involved in digital asset regulation. According to Atkins, firms should not have to register separately with multiple regulators if all share the same oversight objectives.
The move is part of the broader policy shift in the wake of the Trump administration's executive order on digital financial technology, which repealed several restrictive policies implemented by the previous administration. Thereafter, the SEC has dismissed various enforcement actions against large cryptocurrency companies, such as Coinbase and Ripple.
Also Read: Paul Atkins Confirmed as SEC Chair in Pro-Crypto Shift Under Trump Administration
The SEC encounters operational challenges as the US government shutdown enters its second week, despite ongoing regulatory efforts. The agency is operating under an emergency plan with a reduced staff, prioritizing only essential activities and urgent issues.
Moreover, researchers have recently discovered that nearly a year of text messages on his phone by former Chair Gary Gensler were deleted, raising questions about transparency. The missing communications allegedly involved discussions of significant crypto enforcement cases, including those involving Terraform Labs.
Atkins has pledged to pursue a more transparent and measured enforcement strategy. He further said that the SEC will focus on issuing warnings before imposing penalties, giving businesses a chance to fix technical violations. The current leadership also aims to protect investors while fostering a regulatory landscape that supports innovation and restores the United States’ leadership in the digital asset market.
