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

• 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.