COINOTAG News, May 13th – Paul Atkins, the newly appointed Chairman of the U.S. Securities and Exchange Commission (SEC), has unveiled a transformative vision for cryptocurrency regulation. Speaking at the SEC’s fourth crypto roundtable, Atkins emphasized a strategic shift in policy, moving away from the previous administration’s ad hoc enforcement methods. “A new day is dawning at the SEC,” he stated, highlighting that regulation will now leverage existing rulemaking authorities to formulate comprehensive standards for digital assets.
A key focus of Atkins’ agenda is the establishment of clear guidance for determining which assets are classified as securities or “investment contract-bound.” In contrast to the former Chairman Jay Clayton’s era, which he critiqued for not adequately accommodating technological advancements, Atkins aims to facilitate productive engagement between the SEC and crypto companies. Furthermore, there may be potential adjustments to custody rules, allowing funds and advisors to self-custody under defined conditions, signifying a notable evolution in regulatory approach.