SEC Chair Declares a ‘New Day’ in Aim to Become ‘Crypto Capital of the Planet’

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Atkins opened the meeting, stating that the topic of the discussion is timely as “securities are increasingly migrating from traditional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger systems.”The roundtable discussion was the third in a series of four addressing tokenization and bringing traditional assets on-chain.Atkins declared “a new day at the SEC,” pivoting away from regulation by enforcement toward creating clear regulatory frameworks through proper rulemaking processes.In order for the US to be the “crypto capital of the planet,” the Commission must “keep pace with innovation and consider whether regulatory changes are needed to accommodate on-chain securities and other crypto assets,” he said.“Policymaking will no longer result from ad hoc enforcement actions.”Chairman Paul Atkins’ remarks at the Crypto Task Force roundtable on tokenization:The topic of this afternoon’s discussion is timely as securities are increasingly migrating from traditional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger systems.— U.S. Securities and Exchange Commission (@SECGov) May 12, 2025Issuance, Custody, and TradingAtkins compared the migration from traditional to blockchain-based securities to the digital revolution in the music industry. He suggested it could transform securities markets through enhanced liquidity, automation, and novel applications.There were three main focus areas at the roundtable: issuance, custody, and trading.He acknowledged that few crypto assets have used registered offerings, and is committed to developing clearer guidelines and potentially new registration exemptions for token issuers.The regulator also plans to provide more options for crypto custody, including revisiting “qualified custodian” requirements and potentially allowing self-custody solutions.Thirdly, Atkins was supportive of broader trading options, including “super apps” that combine securities and non-securities trading, and modernizing Alternative Trading System regulations.“In the past few years, the SEC first pursued what I call the ‘head-in-the-sand’ approach – perhaps hoping that crypto would go away,” he said before adding:“Then, it pivoted and pursued a shoot-first-and-ask-questions-later approach of regulation through enforcement.”Square Peg in Round HoleHe referenced dated forms such as the S-1, which may not apply to crypto, adding, “We cannot encourage innovation by trying to fit a square peg into a round hole.”Atkins, who took the helm of the SEC in April, concluded:“I am eager to coordinate with colleagues in President Trump’s Administration and Congress to make the United States the best place in the world to participate in crypto asset markets.”The final roundtable titled “DeFi and the American Spirit” is scheduled for June 9.Earlier this month, the SEC and Ripple agreed on a $50 million settlement that ends the five-year legal battle that was instigated by the previous administration as one of its first moves in its war on crypto.SPECIAL OFFER (Sponsored)Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!Source link