SEC Chair Paul Atkins on Monday unveiled plans to revamp the agency’s approach to cryptocurrency regulation, aiming to create clearer guidelines for token distributions and consider new exemptions where necessary.
Speaking at the start of a public meeting of the SEC’s crypto task force, Atkins also said the agency may allow broker-dealers operating alternative trading systems to handle non-securities like bitcoin and ether.
“A key priority of my chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody and trading of crypto assets while continuing to discourage bad actors from violating the law,” Atkins said. Sworn in last month, Atkins has emphasized a desire to build a solid foundation for digital assets and keep political influence out of securities law.
The shift marks a departure from the aggressive enforcement stance under Biden’s SEC, which brought lawsuits against companies such as Coinbase and Kraken. President Trump, who has positioned himself as a “crypto president,” has vowed to reverse those actions, and the agency’s new leadership has moved to withdraw or pause many of the pending cases.
Republican Commissioner Hester Peirce is leading the SEC’s crypto task force as it works to draft new rules and guidance for the industry.
Also on Monday, American Bitcoin, a mining firm backed by President Trump’s sons Eric Trump and Donald Trump Jr., announced it will go public on the Nasdaq through an all-stock merger with Gryphon Digital Mining. Existing shareholders—including both Trump brothers and crypto mining firm Hut 8—will retain 98% ownership of the combined company.
