SEC chair signals shift toward crypto-friendly rules

TLDR

New SEC Chair Paul Atkins has declared the agencys anti?innovation era over and signaled a pivot toward clearer, more crypto?friendly rules in coordination with Congress.

1. Atkins says the SEC will move away from the enforcement?heavy approach of Gary Gensler and work with the Trump administration on clearer digital asset rules.
2. The shift points toward more rulemaking, clearer token classification, and closer SECCFTC coordination, anchored around the Digital Asset Market CLARITY Act.
3. The real impact depends on whether Congress passes CLARITY and on how fast the SEC publishes concrete rule proposals, with meaningful delays still possible.

Deep Dive

1. What Atkins Actually Announced

Paul Atkins, who became SEC chair in April 2025, has said the agency is no longer at odds with technology and innovation and that its anti?innovation era is over, committing to collaborate with the Trump administration and Congress on digital asset rules instead of relying on lawsuits against crypto firms as the main tool of policy enforcement. He explicitly contrasted this with former Chair Gary Genslers enforcement?heavy tenure, which was widely criticized for driving crypto businesses offshore, and framed the SECs new direction as part of Trumps push to make the US the crypto capital of the world.

Atkins comments align with President Trumps Truth Social pledges to codify a future?proof digital asset market structure that cannot be undone by the crypto haters, positioning crypto as a core pillar of US financial policy and innovation.

2. How Rules Could Actually Change

Reporting on Atkins strategy describes an ACT agenda to advance, clarify, and transform SEC rules for digital assets, including clearer distinctions between securities?like tokens and commodity?like tokens, updated disclosure standards, and formal coordination with the CFTC on derivatives and exchanges. The SEC is also said to be working on an innovation exemption for compliant on?chain trading of tokenized securities, plus rules around custody, cybersecurity, and crypto?exposed public companies.

In Congress, the Digital Asset Market CLARITY Act of 2025 would, if passed, define how oversight is split between the SEC and CFTC and codify how most tokens, perpetuals, and exchanges are treated under federal law, giving projects a predictable path instead of case?by?case enforcement.

3. Timelines, Politics, and Remaining Risks

Even with a friendlier SEC chair, the policy shift is not locked in. The CLARITY Act has cleared the Senate Banking Committee in a bipartisan vote but still needs 60 votes in the full Senate, reconciliation with the House, and the Presidents signature, and analysts note that political tensions and controversies around crypto?linked projects could delay passage for years.

Research cited by TD Cowen warns that if Congress stalls this year, the full framework might not be implemented until close to 2029, leaving the industry in a half?reformed state where rhetoric is supportive but many projects still face uncertainty about token status, exchange rules, and stablecoin treatment. In that environment, some firms may accelerate US expansion, while others stay offshore until rules are fully enacted and tested in courts.

Conclusion

The new SEC chair is clearly signaling a friendlier posture toward crypto, with an emphasis on rulemaking and coordination instead of regulation by enforcement. For crypto users and builders, the real turning point will be when specific SEC rules and the CLARITY Act (or similar legislation) are enacted and withstand political cycles and court challenges, converting todays pro?crypto rhetoric into durable, on?the?ground certainty.