SEC Chair Outlines Path for Digital Asset Regulation

In a recent CNBC interview, Paul Atkins, chair of the US Securities and Exchange Commission (SEC), stated that the agency is capable of continuing its advancement of digital asset regulation even in the absence of new legislation from Congress. Atkins indicated that the SEC is providing “technical assistance” as Congress deliberates on digital asset regulatory measures, likely alluding to the market structure bill currently under consideration in the US Senate.

Despite the impact of the longest US government shutdown on the agency's operations, Atkins emphasized that progress is being made on “rules that are focused on helping [the crypto] sector.”

SEC's Regulatory Sufficiency

“We have enough authority to drive forward,” Atkins affirmed. “I’m looking forward to having an innovation exemption that we’ve been talking about now. We’ll be able to get that out in a month or so.”

Atkins, confirmed by the US Senate in April following his nomination by President Donald Trump, has taken steps to reduce enforcement actions against crypto firms, including issuing no-action letters for decentralized physical infrastructure networks. These actions align with policy directives from the Trump administration, which has issued executive orders related to crypto and blockchain.

Challenges in Defining Digital Asset Market Structure

US regulators are awaiting progress on a comprehensive market structure bill. Lawmakers on the Senate Agriculture Committee and the Senate Banking Committee are working to advance a digital asset market structure bill, which will delineate the regulatory authority of agencies like the SEC and the Commodity Futures Trading Commission (CFTC) over cryptocurrencies. Senate Banking Chair Tim Scott has indicated that the committee aims to have the bill ready for markup in December.


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