U.S. SEC Chairman: Will "act soon" on cryptocurrency priorities in the new year

[US SEC Chair: “Will Act Soon on Crypto Priorities” in the New Year] Paul Atkins, Chairman of the US Securities and Exchange Commission (SEC), stated that as the new year approaches, the agency will quickly advance a series of priorities related to the crypto sector. “All the seeds we plant next year will begin to sprout and grow,” Atkins said at the Blockchain Association Policy Summit in Washington, DC, referring to the numerous proposals already submitted to his desk. “Then we can reap the rewards.”

Atkins is formulating an ambitious regulatory roadmap to clarify the SEC’s stance on crypto. Last month, the new chairman unveiled plans for “token taxonomy” to define which digital assets qualify as securities. At the same time, he launched “Project Crypto” to update the SEC’s regulatory framework for digital assets and promoted the introduction of an “innovation exemption” to accelerate the approval process for crypto products.

This approach stands in stark contrast to former SEC Chair Gary Gensler’s crypto policies. During the Biden administration, Gensler took a tough stance, frequently launching enforcement actions against major crypto companies, advocating that most tokens are securities, and facing criticism for “regulation by enforcement” rather than rulemaking.