Paul Atkins, the newly appointed Chair of the US Securities and Exchange Commission (SEC), has announced plans to introduce fresh regulatory measures for cryptocurrency tokens deemed to be securities. Speaking at the opening of a public meeting held by the SEC’s crypto task force on Monday, Atkins said the agency aims to create comprehensive guidelines for token distributions and assess the need for additional exemptions within the current legal framework.
He also suggested the SEC may consider revising its rules to permit registered broker-dealers operating alternative trading systems (ATS) to handle trades in non-securities such as bitcoin and ether—the world’s two largest cryptocurrencies. This move could widen the scope of trading platforms in the digital asset space.
“A key priority of my chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody and trading of crypto assets while continuing to discourage bad actors from violating the law,” Atkins stated during the session.
Since taking office last month, Atkins has repeatedly affirmed that his primary focus will be laying a solid regulatory foundation for digital assets, while maintaining political neutrality in the enforcement of securities laws. His approach comes following long-standing friction between the crypto industry and federal regulators, with many in the sector arguing that most tokens should be treated as commodities rather than securities. Under current law, assets defined as securities must comply with SEC registration and disclosure requirements, which the industry views as burdensome.
Former President Donald Trump has promised to champion the cryptocurrency sector in his bid for re-election, vowing to undo the regulatory actions pursued under President Joe Biden’s administration. The previous SEC leadership filed high-profile lawsuits against major crypto firms, including Coinbase and Kraken, alleging violations of securities regulations. Many of these legal actions have since been withdrawn or paused under the Commission’s new leadership.
The SEC’s crypto task force, which is spearheading the development of tailored rules and guidance for digital assets, is being led by Republican Commissioner Hester Peirce, a long-time advocate for clearer crypto regulation.
