SEC chairman Paul Atkins urges major changes at the desk, in an attempt to reform how it deals with crypto. He testified to the Senate Credits subcommittee About financial services and general government on Tuesday and called “a new and better day for the sec.”
Atkins wants clear rules to be stopped to stop crypto -welder
Atkins said that his most important priority is to create clear crypto rules that protect investors and protect scams.
‘Clear rules of the road are needed for investor protection against fraud, not in the least to help them identify scams that do not merge with the law. Policy making will be done by notification and commentary regulation, not through regulation by enforcement,“He said.
This is because the congress makes more effort to limit its power over crypto. Last week the legislators introduced the Clarity Act, a bill that would get the most crypto assets out of the hands of the SEC and create a new set of rules.
Atkins said further:
“An important priority of my chairmanship will be to develop a rational regulatory framework for crypto activ markets that set clear rules of the road for the issue, guardianship and trade of crypto assets while continuing to discourage bad actors from breaking the law.”
Democrats warn of meshes in crypto -reforming law
However, Democrats did not accuse the SEC of how the bill could influence the system, warning that it could have large banks used as a Maas in the law. Atkins said that he was aware of the changes in the congress, but pointed to the new crypto Task Force and a Defi tour table as steps to support innovation.
Atkins also praised commissioners Hester Peirce and Mark Uyeda for launching the Crypto Task Force. Until now, the Task Force has held four round tables on important topics such as what counts as security, how to regulate crypto -trading and custody and tokenization. The next focus is Defi, with more feedback expected from the public.
On 30 May, Atkins submitted the budget request of 2026 in 2026 and supported President Trump’s plan of President Trump $ 2,149 billion. The amount remains flat compared to 2024 and 2025 and focuses on the core mission of the SEC and finances the new Crypto Task Force.