SEC Chairman Paul Atkins: Crypto and tokenization are "the number one priority"

The Chairman of the Securities and Exchange Commission of the United States (SEC), Paul Atkins, stated that cryptocurrency and tokenization are the "number one priority" for the agency as the SEC shapes the path forward to promote innovation in the digital asset space.

Speaking at the DC Fintech Week on Wednesday, Atkins emphasized that the SEC is prioritizing the development of a legal framework for the crypto industry.

"We want to ensure that we build a solid framework to attract those who have left the United States to return, while also creating a reasonable system for the future — a place where innovation can thrive," he said.

"I want to say that we are the Securities and Exchange Commission and Innovation Commission (," he jokingly added.

![])https://img-cdn.gateio.im/webp-social/moments-7c7296a33287f38087b71c7c8dededa3.webp(Paul Atkins## Completely different from the time of Gary Gensler

Atkins has taken a very different approach from his predecessor Gary Gensler since assuming the position of SEC Chairman in April of this year.

While Gensler is known for his cautious approach and "regulation by enforcement," continually suing major crypto companies and asserting that most tokens are securities, Atkins appears to be more open and proactive towards blockchain innovation.

Since April, Atkins has made several moves to create a more friendly environment for digital assets. He believes that distributed ledger technology ) – DLT( is the "most interesting part" of the crypto space.

Towards "innovation exemption" and a unified legal framework

In June, Atkins revealed that he had instructed his team to consider a proposal called "innovation exemption" )exemption for innovation( — a mechanism to help companies bring on-chain products and services to market faster.

He said that this plan is expected to be implemented before the end of this year.

“We will bring various solutions, such as the 'innovation exemption' that I mentioned, aimed at a comprehensive application )super app( where regulatory agencies related to crypto can collaborate together.

But why do businesses have to register with multiple agencies, while all are aiming for the same goal?” Mr. Atkins raised the issue.

SEC is restricted in its operations due to the government shutdown

Currently, the SEC is in a state of suspension of most activities as the U.S. government enters the second week of the shutdown.

At the beginning of this month, the U.S. Congress failed to reach a budget agreement, causing a number of federal employees to be temporarily laid off, and agencies such as the SEC are only maintaining a very small number of personnel to handle emergency situations.

According to current guidelines, the SEC states that they are operating with "very few staff available to respond in emergencies."

Atkins' remarks mark a significant turning point in the SEC's policy direction, as the agency shifts from a hardline stance under Gensler to supporting innovation and collaboration with the crypto industry.

If initiatives like "innovation waivers" or a unified regulatory framework are implemented, it could usher in a new era for blockchain companies, helping the U.S. reclaim its status as the center of digital financial innovation.

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