CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

BTC Pulse 2025-06-04 17:15:00

SEC to Ditch ‘Regulation by Enforcement’ in Favor of Transparent Crypto Rulemaking, Says Chair Atkins

Open Public Rulemaking to Guide Crypto Regulation Securities and Exchange Commission Chairman Paul Atkins told a Senate subcommittee on June 3 that the agency will pursue cryptocurrency regulation through “notice and comment” rulemaking, a sharp departure from past enforcement-focused methods. “The commission will leverage its current authorities to set fit-for-purpose standards for market participants,” Atkins stated, prioritizing predictability and transparency in policy-making. A Shift Away from the Gensler Style Atkins’ statement represents a shift in strategy away from the approach of previous Chair Gary Gensler, who was repeatedly criticized for regulating crypto through enforcement actions rather than printed-up rules. Atkins vowed that enforcement would once again play its historical role—punishing violations of known rules, not creating policy through the courts. “The commission’s approach to enforcement will revert back to Congress’s original intent,” he stated, “especially with regard to fraud and manipulation.” Clear Standards for Crypto Markets The SEC under Atkins also plans to issue comprehensive rules on crypto issuance, which includes custody and trading. These “rules of the road” will strive to provide balance between investor protection and innovation. “Clear rules are necessary to protect investors’ from fraud—not least in order to allow them to identify scams that do not operate according to the law,” Atkins added. When asked if crypto exchanges should handle both fiat and digital assets, Atkins dodged, stating the SEC’s Crypto Task Force is working on regulations that “make sense for the industry.” Crypto Task Force and FinHub Overhaul Atkins also stated that the SEC’s Crypto Task Force, which was created earlier this year, will publish its first report later in the months to come. The task force will most likely play a leading part in crafting a reasonable regulatory framework. Meanwhile, Atkins is seeking legislative authorization for the winding down of FinHub, the SEC’s Strategic Hub for Innovation and Financial Technology. “Innovation must be integrated into SEC-wide culture and not limited to a relatively small office,” he said. FinHub’s central functions, Atkins said, are being folded into broader agency operations. Post-Gensler Reforms Are Already Underway Since January’s departure of Gensler, the SEC has adopted a very different tone. It has put on hold several high-profile enforcement actions against crypto firms and issued guidance clarifying the legal status of crypto staking. Atkins’ testimony is a step towards stability and legitimacy of crypto regulation, premised on open guidance and public consultation.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.