SEC Chairman Paul Atkins reiterated the creation of a "global Crypto Assets capital": returning to regulatory missions and promoting Crypto+AI financial innovation.

Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), delivered a keynote speech at the OECD Global Financial Markets Roundtable, saying that the SEC will return to its mission of protecting investors and promoting capital formation, and put forward a vision for foreign issuers, digital assets and artificial intelligence, emphasizing international cooperation to promote global financial innovation and economic prosperity. (Summary: The SEC and CFTC issued a joint statement “Coordinated Regulation”: Exploring Predicting Market Thresholds and Introducing Perpetual Contracts) (Background supplement: Crypto mom Hester Peirce warns: L2 blockchain may be recognized as an exchange by the SEC, the key is to see this) Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), delivered a keynote speech at the OECD Global Financial Markets Roundtable in Paris on September 10, He shared his insights on promoting competition in global capital markets, protecting investors and driving financial innovation. Atkins emphasized that the SEC will move from “enforcement-driven” to “rules-driven” regulation, returning to the three core missions of protecting investors, maintaining fair and orderly markets, and promoting capital formation, and proposed reforms on issues such as foreign issuers, accounting standards, digital assets, and artificial intelligence (AI). Returning to the SEC's core mission to promote fair competition In his speech, Atkins said the SEC will focus on protecting investors, ensuring fair and efficient markets, and promoting capital formation. He emphasized the depth and attractiveness of the U.S. capital markets, especially for foreign companies, which can achieve higher valuations, liquidity and market reputation through listings. To that end, the SEC has provided special arrangements for foreign issuers since its inception to accommodate differences in business practices, accounting standards, and corporate governance with U.S. companies. However, he noted that as global markets evolve, the SEC is re-examining whether these arrangements still apply. Atkins revealed that he has asked the SEC to issue a concept paper for public comment on whether additional conditions should be imposed on foreign companies, such as a minimum overseas trading volume or listing on major foreign exchanges, to ensure that U.S. investors are adequately informed and to maintain a level playing field. He stressed that this is not to discourage foreign companies from entering the U.S. market, but to understand the impact of changes in the structure of foreign companies over the past two decades. Emphasizing the importance of high quality accounting standards When it comes to accounting standards, Atkins reiterates the criticality of high quality accounting standards for reliable financial reporting. He recalled that in 2007 the SEC allowed foreign companies to prepare their financial statements using International Financial Reporting Standards (IFRS) without the need to comply with U.S. GAAP (U.S.). GAAP) and stressed the need for stable funding from the International Accounting Standards Board (IASB) to maintain its ability to set high quality standards. He warned that the SEC may need to revisit its decision to remove the reconciliation requirement if it is underfunded, and called on the IASB to focus on financial reporting rather than using standards for political or social purposes. 'Cryptocurrency Project' Ushers in a New Era of Digital Assets In the field of digital assets, Atkins announced that the SEC has launched a “Project Crypto” aimed at modernizing securities regulations and promoting the use of blockchain technology in capital markets. He criticized past SEC enforcement actions against the cryptocurrency industry for pushing innovation and capital overseas to the detriment of U.S. entrepreneurs. He promised that the SEC would provide clear rules and ensure that entrepreneurs could raise money in an environment free of legal uncertainty. Atkins stressed that most cryptocurrencies are not securities, and the SEC will allow trading platforms to provide trading, lending and pledging services under a single regulatory framework, encourage on-chain financing and “super application” platforms, and cooperate with the Trump administration to build a “global cryptocurrency capital.” Atkins further envisions the application of artificial intelligence (AI) in financial markets, particularly “agentic finance”, where AI agents execute transactions, allocate capital, and manage risk autonomously. He believes that combining AI and blockchain will reduce market costs, improve efficiency, and allow more people to access high-end investment strategies. He stressed that the government should regulate appropriately to remove barriers to innovation and ensure that the United States remains ahead of global financial innovation. International Cooperation and Transatlantic Partnership Atkins also praised the European Union's Crypto Asset Market Regulation (MiCA), saying it provides an example for digital asset regulation and said the U.S. will learn from it while working to create an economic environment that supports innovation. He called for working with international partners to strengthen the U.S.-European economy and transatlantic partnership by leveraging the global nature of public blockchains, as well as modernizing payments and capital markets infrastructure. 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