SEC Chairman: We will establish a "rational regulatory framework" for Crypto Assets instead of taking enforcement actions.

On June 4, Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), continues to advance his reform agenda, committed to bringing a “new era” to the SEC and pushing for a shift in the agency’s policy stance on digital assets. Paul Atkins testified before the Senate Appropriations Committee’s Subcommittee on Financial Services and General Government on Tuesday, stating that he is dedicated to establishing a “rational regulatory framework” for encryption assets, prioritizing rule-making and enhancing transparency over relying on enforcement actions. He stated, “Clear regulatory rules are essential to protect investors from fraud, as they can at least help them identify those obviously illegal eyewash schemes. Policymaking will be completed through the announcement and comment rule-making process, rather than through enforcement as regulation.”