A new stance on crypto regulation
U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has signaled a major shift in the agency’s approach to digital assets, stating that “very few” crypto tokens should be classified as securities. His comments mark a sharp contrast to the previous SEC administration, which often took a tougher stance on the crypto industry.
Speaking at the Wyoming Blockchain Symposium, Atkins emphasized that a token in itself should not automatically be considered a security. “There are very few, in my mind, tokens that are securities, but it depends on what’s the package around it and how it’s being sold,” he explained.
Project Crypto aims to modernize financial markets
Atkins’ comments come just weeks after the SEC launched Project Crypto, a sweeping initiative designed to modernize securities laws and move more financial infrastructure on-chain. The program is being described as one of the most ambitious regulatory projects for crypto markets to date.
Unlike former SEC Chair Gary Gensler — who argued that most digital assets were securities — Atkins is steering the SEC toward innovation. “It is a new day, especially for this [crypto] industry,” he said. “We are about innovation. Now we want to embrace innovation.”
Building a framework to future-proof crypto
Atkins stressed the importance of creating regulatory clarity that protects innovation while safeguarding markets from unnecessary restrictions. In a post on X following his remarks, he wrote: “We must craft a framework that future proofs the crypto markets against regulatory mischief. I look forward to working with my counterparts across the Administration and Congress to get the job done.”
Analysts praise SEC’s new direction
Industry experts have welcomed Atkins’ approach. Bernstein analysts recently called Project Crypto “the boldest and most transformative crypto vision ever laid out by a sitting SEC chair,” noting that it could “rewrite the rules of Wall Street.”
Bitwise CIO Matt Hougan also backed the initiative, calling it a roadmap for the next five years of investing. He highlighted Atkins’ view that not only crypto tokens but also traditional assets like stocks, bonds, and even U.S. dollars could eventually move on-chain.
A turning point for digital assets
Atkins’ stance signals a potentially friendlier environment for crypto regulation in the U.S., easing uncertainty for investors and developers. With Project Crypto and a commitment to innovation, the SEC under Atkins is positioning itself to shape the future of blockchain-based financial markets.
