SEC Chair Atkins says agency "mobilizing" on crypto rules, awaits Congress

Source Fxstreet
  • SEC Chair Paul Atkins stated that the agency is "mobilizing" to update guidance for digital assets.
  • He added that the Commission is awaiting lawmakers to pass more crypto bills.
  • Atkins announced Project Crypto on July 31, which aims to develop better regulations to fit advancements in the crypto industry.

Securities & Exchange Commission (SEC) Chair Paul Atkins said in a Friday interview that the agency is waiting for lawmakers to pass additional crypto legislation as it "mobilizes" to update its guidance on digital assets.

SEC Chair Atkins tags lawmakers as agency works to enact crypto guidelines

The SEC is preparing to implement President Donald Trump's vision to make the US the crypto capital of the world, Chair Paul Atkins stated in a Fox Business interview on Friday.

Atkins said the agency is "mobilizing" all of its different divisions and offices to carry out the recommendations of Trump's Crypto Working Group, which include revisiting rules that "have been around for 90 years or so."

He referenced that the Group, which released a report in July, outlined clear suggestions to advance and realize the President's vision for crypto and digital finance.

The SEC anticipates legislative progress in passing other crypto bills, Atkins said. He noted that the agency's work will be grounded in laws enacted by Congress, including the recently signed, stablecoin-focused GENIUS Act and ongoing market structure reform efforts.

"It will be undergirded by whatever comes out of Congress, but I believe that we have the authority to move forward in these areas and provide that certainty and clarity for people," Atkins said.

Lawmakers passed the GENIUS bill last month with a strong bipartisan vote, which aims to regulate stablecoin issuance in the country. House lawmakers also passed the CLARITY and Anti-CBDC bills, which required the Senate's approval before reaching the President's desk.

Atkins also spoke on the potential impact of a district court's decision to strike down the debit interchange rule. He said the ruling could encourage alternative payment methods, including cryptocurrencies, and strengthen real-time or instant payment networks.

The statement comes a few weeks after Atkins announced the SEC's Project Crypto initiative, which aims to develop better regulations to fit advancements in the crypto industry. 

Atkins stated his desire to see the US financial market move on-chain. The initiative will also provide clear and simple regulatory guidelines for crypto asset classification, custody and trading.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
US CPI data set to show inflation ticked up in July as tariffs push prices upThe United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for July on Tuesday at 12:30 GMT.
Author  FXStreet
Aug 12, Tue
The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for July on Tuesday at 12:30 GMT.
placeholder
Gold Price Forecast: XAU/USD gains momentum to near $3,650, eyes on US CPI releaseThe Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Author  FXStreet
Sep 11, Thu
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
placeholder
US CPI data set to point to sticky inflation as tariff pressures persistThe United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for August on Thursday at 12:30 GMT.
Author  FXStreet
Sep 11, Thu
The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for August on Thursday at 12:30 GMT.
placeholder
What to expect from Ethereum in October 2025With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Author  Beincrypto
Sep 30, Tue
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
goTop
quote