New SEC Chairman Paul Atkins has committed to creating a clear regulatory framework for the crypto sector. He aims to replace ambiguity with investor protection and support for innovation.

Speaking before the Senate Appropriations Subcommittee on 3 June, he said outdated and unclear rules have held the industry back.

Atkins stressed that his approach would end the former administration's 'regulation-by-enforcement' model. He plans to use structured rulemaking, with notice-and-comment procedures guiding the creation of clear, tailored regulations for the crypto market.

He also reaffirmed support for the recently launched Crypto Task Force. Atkins praised the leadership of Commissioners Uyeda and Hester Peirce, often referred to as 'crypto mom', adding that the SEC's divisions would act swiftly to provide regulatory certainty.

Appointed under the Trump administration's crypto-friendly agenda, Atkins' policy direction signals a significant shift. It embraces digital asset innovation while ensuring strong investor safeguards.

Would you like to learn more about AI, tech and digital diplomacy? If so,ask our Diplo chatbot!