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SEC Chairman Pushes to Regain U.S. Crypto Leadership
In a decisive pivot from years of regulatory crackdowns, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has announced that digital assets and cryptocurrencies will now be the agency’s top strategic priority.
Speaking at DC Fintech Week 2025, Atkins confirmed plans to launch a new “innovation exemption” aimed at reducing regulatory hurdles for blockchain startups, token issuers, and crypto service providers — marking what many in the industry are calling a “crypto revival.”
Innovation Exemption to Accelerate Crypto Product Launches
Atkins detailed the SEC’s roadmap to introduce a formal regulatory relief program by the end of 2025. The initiative will allow select crypto firms to receive temporary exemptions from legacy securities rules, enabling them to launch products like token offerings and staking services more efficiently.
“We’re committed to building a modernized framework that supports innovation without compromising investor protection,” said Atkins during his keynote address. “Our current rules were designed for a pre-blockchain era — and it’s time to fix that.”
The rulemaking process for the “innovation exemption” is expected to begin by December 2025, even as ongoing government shutdowns slow operations across federal agencies.
A Departure from the Gensler Era
Atkins’ new direction marks a sharp departure from the previous SEC administration under Gary Gensler, which became known for aggressive enforcement actions and lawsuits targeting the crypto industry.
Gensler’s approach, based on the idea that most tokens qualified as unregistered securities, led to a series of high-profile court cases, enforcement actions, and billions in fines. Critics argued this created regulatory uncertainty and drove innovation out of the U.S.
By contrast, Atkins is signaling a shift toward principles-based regulation that encourages experimentation and responsible growth.
“The message is clear: the SEC under Atkins is open for innovation,” said a fintech attorney at the event, speaking anonymously due to client affiliations. “This could bring back a wave of projects that had written off the U.S. as a hostile environment.”
U.S. Lags Behind in Global Crypto Race
Atkins acknowledged that the United States is now “ten years behind” regions like Europe and Asia when it comes to digital asset regulation. In recent years, countries like Singapore, the UAE, and the UK have emerged as crypto-friendly hubs due to their clear regulatory guidelines and proactive support for blockchain companies.
“The previous stance of stifling innovation in the name of investor safety ultimately harmed U.S. competitiveness,” Atkins said. “We lost talent, investment, and credibility.”
The “innovation exemption” aims to reverse that trend by allowing faster time-to-market for blockchain products — without requiring full SEC registration or IPO-level compliance for early-stage projects.
Collaboration with the CFTC
In a further effort to streamline oversight, Atkins confirmed that the SEC is now collaborating closely with the Commodity Futures Trading Commission (CFTC) to reduce jurisdictional overlap. Past years have seen frequent clashes between the two regulators over which agency has authority over certain digital asset classes.
“There’s no room for turf wars when the goal is to bring regulatory clarity,” Atkins said. “We’re working to coordinate our frameworks to ensure consistency for innovators and protection for the public.”
A Personal Mission for Atkins
Atkins’ pro-crypto stance is not new. Before returning to the SEC as Chairman in April 2025, he served as a commissioner and played a leading role in blockchain policy through his work with the Digital Chamber’s Token Alliance. His financial disclosures show he holds up to $6 million in crypto assets, underscoring a deep personal and professional interest in the sector’s success.
His appointment was part of a broader reshuffling under the Trump administration, which has expressed an ambition to make the United States the “crypto capital of the planet.”
Industry leaders have largely welcomed the change. “We finally have a regulator who understands the tech and the market realities,” said one blockchain founder attending DC Fintech Week. “The exemption program could be a game-changer.”
What Comes Next?
Despite enthusiasm, Atkins cautioned that the “innovation exemption” will not be a regulatory free-for-all. All participants will be required to adhere to transparency standards, anti-fraud safeguards, and basic consumer protection principles.
“This is not deregulation — it’s smart regulation,” he said. “We’re building trust so this ecosystem can thrive responsibly.”
The SEC is expected to publish a draft proposal for public comment by year-end. If implemented, the program could reshape the U.S. crypto regulatory landscape and potentially reposition the country as a global hub for digital asset innovation.
