New SEC Chairman Paul Atkins said the agency does not need to wait to implement policies on cryptocurrencies.
Jesse Hamilton | Edited by Cheyenne Ligon on April 25, 2025, 5:55 PM
Paul Atkins’ first public event as chairman of the U.S. Securities and Exchange Commission was a cryptocurrency roundtable on Friday, where the agency’s new chief devoted his inaugural speech to assuring the industry that he will continue to review securities policy to support innovation in the digital asset space.
The agency and the market are awaiting a decision by Congress to establish a regulatory framework for the cryptocurrency market, which is likely to create some barriers. Atkins told an audience at the SEC headquarters in Washington that the regulator will work to create a “reasonable, purposeful framework” for cryptocurrencies.
In response to a question from CoinDesk after his speech, Atkins indicated that the agency may take some action in anticipation of the new laws.
“It’s always good to have support from Congress, and if there’s a law that supports what we’re doing, that’s even better,” Atkins said. “But we have a lot of wiggle room within the rules and laws that are in place.”
Atkins also suggested that the concept of dedicated crypto broker-dealers (a rare form of incorporation most prominently represented by Prometheum) has been successful and may need to be reconsidered. He added that the agency would consider changing custody rules to “adapt them to crypto assets and blockchain technologies.”
Earlier this week, Atkins attended a swearing-in ceremony at the White House, where Trump noted that “he is the perfect person to lead this agency” at a time when the digital asset sector needs regulatory clarity, and Atkins said that “the top priority of my chairmanship will be to establish a robust regulatory framework for digital assets.” However, Friday’s event at the SEC’s headquarters was his first full public engagement.
Read more: Cryptocurrency ally Paul Atkins sworn in to replace Gary Gensler as US SEC chief
The crypto sector has high hopes for Atkins, though his replacement in recent months, Commissioner Mark Uyeda, has already taken a number of decisive steps to reverse the regulator’s previous reluctance to cryptocurrencies under former Chairman Gary Gensler. As interim chairman, Uyeda has reversed or de-prioritized a number of crypto policy efforts undertaken under Gensler and abandoned most of the significant compliance measures aimed at the industry.
So far, industry expectations for Atkins’ leadership have been based on assumptions based on his experience advising and investing in digital asset companies, especially after his confirmation hearings
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