SEC Chair Paul Atkins spoke on August 19 at the Wyoming Blockchain Symposium, where he expressed support for the cryptocurrency industry and made it clear that he intends to push forward with regulatory reform.
According to him, the commission is ready to move ahead with a new approach: a token by itself is not necessarily a security. Atkins noted that in his view, such tokens are “very few,” and their status depends not on their form but on the conditions of issuance and sale.
Contrast With Previous Leadership’s Position
The current SEC stance sharply contrasts with the position of the commission’s previous chair, Gary Gensler, who believed that most crypto assets fell under the definition of securities. Atkins stated that a new stage has begun in the SEC’s work, and now the agency aims not to fight technologies but to integrate them into the financial system.
Regulatory Reform Project
In July, the SEC launched the Project Crypto initiative, which Atkins described as an attempt to modernize securities legislation. The goal of the project is to bring traditional financial markets into an onchain format.
Later on Tuesday, he wrote on X that the key task is to create a regulatory framework that protects crypto markets from arbitrary interference by regulators. Atkins added that he is ready for dialogue with other agencies and members of Congress.
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