SEC Chair Atkins Charts Pro-Innovation Path For Crypto and Tokenization Regulation

Securities and Exchange Commission Chair Paul Atkins is looking for cryptocy innovation to thrive as the agency forges its path in prioritizing the industry. Crypto and tokenization are “job one” for the SEC, Atkins reiterated on Wednesday at DC Fintech Week.  “We want to make sure that we build a strong framework to actually attract people back into the United States who may have fled, but then also be able to build a framework that makes sense for the future, so that innovation can thrive,” he said. “I’d like to say that we’re the Securities and Innovation Commission,” he added jokingly.

Atkins has taken a starkly different approach to regulating crypto following his predecessor, Gary Gensler, since becoming chair in April. Gensler took a cautious approach to crypto and brought several cases against large crypto firms, saying that most cryptocurrencies were securities, while being criticized for his regulation-by-enforcement approach.

Since April, Atkins has taken several steps toward being friendly toward digital assets. On Wednesday, Atkins also said distributed ledger technology is the most exciting part of crypto. In June, Atkins said he had directed his staff to consider an “innovation exemption” that he said would quickly allow firms to “bring on-chain products and services to market.” He has also said, he planned to put that exemption in place by the end of the year.