SEC Chairman outlines plans for cryptocurrency – Law firm Hunton Andrews Kurth

During the SEC’s roundtable on tokenization on May 12, 2025, SEC Chairman Paul Atkins laid out the SEC’s upcoming strategies regarding crypto and digital assets. Atkins emphasized the importance of creating a rational regulatory framework for crypto asset markets to establish clear guidelines and deter unlawful behavior. He noted President Trump’s vision for the US to become the primary “crypto capital of the planet” and assured collaboration with the Administration and Congress to achieve this goal.

The Chairman outlined a shift in SEC policy away from random enforcement towards employing rulemaking, interpretive, and exemptive powers to formulate appropriate standards for market players. Atkins highlighted three primary areas of interest concerning crypto assets: issuance, custody, and trading. Concerning issuance, he proposed creating definitive criteria for the circulation of crypto assets designated as securities or under an investment agreement. He referenced recent SEC announcements on digital assets and suggested potential adjustments to regulations and procedures to facilitate this objective.

Atkins also instructed SEC staff to evaluate whether additional guidance, registration exemptions, or safe harbors were required. Regarding custody, he advocated for enhancing flexibility and transparency on the regulation of “qualified custodians” under the Investment Advisers Act and the Investment Company Act. Additionally, he proposed a reassessment of the “special purpose broker-dealer” framework currently utilized by only two entities in this context.

In terms of trading, Atkins endorsed expanding the range of financial products available on trading platforms, including the trading of both securities and non-securities within the same platform. He expressed support for exploring the possibility of implementing conditional SEC exemptions to prevent registrants from seeking innovation in blockchain technology offshore, thereby leveling the regulatory playing field between foreign and US entities.

Atkins’ remarks underscored the SEC’s commitment to fostering a conducive environment for digital asset markets while upholding regulatory integrity. His delineation of priorities and objectives signifies a proactive stance in adapting to the evolving landscape of crypto assets. By emphasizing deliberate rulemaking and strategic guidance, the SEC aims to streamline regulatory processes and advance the legitimacy of crypto transactions within a well-defined framework.