Paul Atkins’ Crypto-Focused New Approach 

Paul Atkins acknowledges that the SEC has taken a harsh stance on crypto markets in the past. In his speech on May 19, 2025, he said, “Crypto markets have been languishing in SEC uncertainty for years.” To eliminate this uncertainty, he has taken action. In the same speech, he added, 

“Although I have instructed our staff in the Commission’s policy divisions to draft rule proposals related to crypto, the staff continues to ‘clear the decks’ through staff-level statements.” 

Atkins advocates for the SEC to return to an innovative approach. 

“When I began my tenure as Chairman, I can tell you this: we are returning to our roots of encouraging innovation rather than stifling it,” he says. “Markets innovate, and the SEC should not be in the business of telling them to stand still.” 

At the Roundtable Meeting on April 25, 2025, Paul Atkins pledged to modernize the regulatory framework for blockchain technology. He supports registered broker-dealers trading assets like Bitcoin and Ethereum. Additionally, he is reviewing custody rules to provide flexibility. 

Search for a Legal Framework for Crypto Markets 

Crypto markets are awaiting regulatory clarity. The U.S. Congress is considering a bill to clarify the roles of the SEC and the Commodity Futures Trading Commission (CFTC). Atkins, in his speech on May 12, 2025, expressed support for Congress passing the law. However, he also noted that they could act under existing authorities. For example, the SEC is developing proposals for DeFi projects. A roundtable meeting scheduled for June 9, 2025, will focus on decentralized finance. 

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The post Paul Atkins: Crypto Markets Struggle in SEC Uncertainty  appeared first on Coin Engineer.

Stark: “Crypto Assets Are Still Securities”

Former SEC Internet Enforcement Director John Reed Stark opposed suggestions for regulatory reform. He argued that the Securities Acts of 1933 and 1934 shouldn’t be amended to accommodate digital assets, maintaining that crypto assets remain securities under current law.

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“People buying crypto are not collectors. They are investors, and the SEC’s mission is to protect investors,” Stark stated. He criticized crypto firms for using delay tactics and top legal representation, only to lose their cases.

“No Innovation in Crypto”

Stark also dismissed claims of innovation in the crypto space, arguing it doesn’t compare to major tech revolutions like the iPhone launch.

A Long-Time Crypto Critic

Stark has consistently criticized the cryptocurrency industry for lacking transparency and accountability. In February 2024, he likened the Dallas Mavericks’ sponsorship with Voyager to a deal with a “heroin manufacturing firm.”

While supporting Gary Gensler’s regulation-by-enforcement approach, Stark insists crypto must conform to existing laws. However, industry leaders like Mark Cuban have criticized his views, with Cuban labeling them “crypto derangement syndrome” in June 2023.

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The post John Reed Stark Opposes Crypto Regulation Reform! appeared first on Coin Engineer.