SEC chair Atkins prioritizes innovation in crypto rulemaking
Enforcement and crackdowns have long characterized the U.S. Securities and Exchange Commission’s (SEC) stance on cryptocurrencies and other digital assets. After years of standoffs, its new willingness to engage with the crypto industry could mark the start of a genuine experiment in regulatory change. SEC Chair Paul Atkins designated crypto and tokenization as the agency’s “job one” priority, marking a move toward a pro-innovation stance. The agency’s previous chair, Gary Gensler, wielded enforcement as his primary tool. Under Atkins, however, the agency seems to be asking a different question: how to let innovation thrive while maintaining oversight. Gensler-led SEC: Enforcement as policy Gensler treated most cryptocurrencies as “securities” and centered his crypto regulation strategy on aggressive enforcement and litigation. During Gensler’s tenure, the SEC filed over 125 crypto-related enforcement actions and obtained a total monetary settlement, according...