New SEC Chair Says Digital Assets are Top Priority
Commentary by Gage Raju-Salicki
Recently sworn-in SEC Chair Paul S. Atkins said one of his top priorities "will be to provide a firm regulatory foundation for digital assets."
At the public ceremony, Chair Atkins said it is time for the SEC to end its "waywardness," "return to its core mission" and "keep politics out of our securities laws." Mr. Atkins said that "through a rational, coherent and principled approach, we will work to ensure that the United States is the best and most secure place in the world to invest and to do business."
When asked on his sense of how the CFTC and SEC will differ on crypto regulations, Mr. Atkins said he hopes they will not as there is no reason the two agencies cannot work "cheek by jowl." He said he will work closely with CFTC Chair-nominee Brian Quintenz.
Commentary
Paul Atkins taking the reins at the SEC is significant. In laying out digital assets as a major priority for the agency, he has charted out a major new: one focused on providing clarity for crypto.
Mr. Atkins has significant crypto experience; he worked with The Digital Chamber's crypto working groups in the past. Mr. Atkins will be offering opening remarks at this Friday's Crypto Task Force roundtable focused on custody. It is expected that he will expound on the importance of clarity for the industry and further set the tone for his approach to digital assets.
Digital asset protocols should feel much more welcome with this leadership and more willing to approach the SEC to discuss projects than they did a year ago. Members of the broader crypto community should engage with the SEC to help inform their approaches to digital asset regulation. The Crypto Task Force takes meetings regularly—one need only ask to participate.