- SEC’s new chair signals shift toward clearer, collaborative crypto regulations.
- Over 70 crypto ETFs await SEC approval amid rising market optimism.
The crypto industry kicked off the week with high anticipation for the U.S. SEC’s 12th May roundtable on “Tokenization: Moving Assets Onchain.”
Seen as a “spring sprint toward crypto clarity,” the event marks a turning point in regulatory discussions.
Digital asset innovators and policymakers are engaging in deeper dialogue on key industry developments. Ahead of the event, BlackRock met with the SEC’s Crypto Task Force on the 9th of May.
Discussions covered staking mechanisms, tokenization infrastructure, and standards for crypto exchange-traded products.
Meanwhile, Cardano’s [ADA] Charles Hoskinson announced a shift from the platform’s traditional, methodical approach.
This new, agile strategy aims to adapt quickly to evolving market conditions.
SEC Chair reveals his vision during the SEC Crypto roundtable
Fulfilling all expectations, SEC Chair Paul Atkins, in a keynote address, underscored the event’s significance, declared the dawn of a “new day” for crypto oversight, and outlined intentions to establish a pragmatic regulatory architecture.
Notably, Atkins hinted at potential rule changes enabling broker-dealers with alternative trading systems (ATS) to facilitate trades involving non-securities like Bitcoin and Ethereum.
Remarking on the same, Atkins said,
“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.”
Futhermore, Atkins also laid out a transformative vision for U.S. crypto regulation.
Committing to a departure from the agency’s historically aggressive stance, Atkins emphasized the need to abandon the “shoot-first-and-ask-questions-later” approach in favor of a well-defined, transparent framework.
He added,
“It is a new day at the SEC. Policymaking will no longer result from ad hoc enforcement actions.”
Prevailing challenges
Gene Hoffman, CEO of Chia Network, captured the changing tone at the SEC when he described the agency’s new leadership as “open-minded and open for business.”
Hoffman added,
“Instead of focusing solely on risks, this SEC recognizes the significant opportunities decentralized public blockchains create for investors.”
This contrasted sharply with the enforcement-heavy era under former Chair Gary Gensler, whose regulatory crackdowns often shook sector growth.
Henceforth, while Atkins’ arrival has brought renewed optimism, the road ahead remains complex.
Prolonged battles like the SEC vs. Ripple [XRP] case and a backlog of over 70 pending ETF applications, highlighted by Bloomberg’s Eric Balchunas, underscore the regulatory hurdles still in play.
Amid these developments, the crypto market continues to surge, with global market capitalization reaching $3.4 trillion, reflecting both momentum and mounting expectations for regulatory clarity.
