New SEC chair vows $1 trillion crypto reforms to boost US investment

Paul Atkins officially took office as chair of the U.S. Securities and Exchange Commission (SEC), promising a radical overhaul of crypto regulations to restore fairness and make the United States the leading investment hub.  

Atkins, praised by President Donald Trump for his experience in the crypto sector, pledged to end what he called the “weaponization” of the SEC and to stop politically motivated enforcement practices seen under the previous administration.  

“So at the helm of the SEC, I can confidently say it is a new day,” Atkins said after his swearing-in.  

He emphasized returning the SEC to its core mission: investor protection, fair and orderly markets, and capital formation.  

A top priority for Atkins is establishing a “rational, coherent, and principled” regulatory framework for digital assets.  

“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,” he stated.  

Atkins expressed optimism about collaboration with the Commodity Futures Trading Commission (CFTC), highlighting the expected leadership of nominee Brian Quintenz and the potential for joint efforts to protect investors and the economy.  

Industry figures welcomed Atkins’ appointment, hopeful for clearer rules after years of enforcement-heavy policies under former Chair Gary Gensler.  

Michael Saylor, a prominent crypto executive, expressed support on social media, saying, “SEC Chairman Paul Atkins will be good for bitcoin.”  

Atkins has already signaled a willingness to reconsider existing crypto regulations comprehensively and to work with Congress where needed, while asserting the SEC has sufficient authority to act independently.  

His leadership marks a significant shift towards fostering innovation and investor confidence in the digital asset space.  

The new SEC Crypto Task Force, led by Commissioners including Hester Peirce, is expected to play a key role in shaping this regulatory transformation.